Common use of Rent Clause in Contracts

Rent. The parties shall Prorate all Rent actually received by Seller for the month in which Closing occurs. At Closing, to the extent actually received by Seller prior to Closing, Seller shall pay to Buyer any and all prepaid Rent relating or pertaining to the Property. If Seller receives payment for Rent after Closing, Seller shall immediately pay to Buyer the portion of such payment which relates to the period on and after the Closing Date, and any portion of such payment which relates to the period prior to Closing which was credited to Seller at Closing. Annual Rent increases pursuant to the Leases are to be paid through the day preceding the Closing Date; provided, however, that if this transaction Closes, Buyer will receive a Rent credit at Closing equal to the annual Rent increases beginning November 1, 2016 through the day preceding the Closing Date, which the parties shall Prorate for the month in which Closing occurs. Any Capital Expenditures Obligation (as defined in the Leases) of Seller, as landlord, pursuant to the Leases with respect to an annual $350 per unit allowance toward payment or reimbursement of Capital Expenditures (as defined in the Leases) made by Tenant shall be paid by Seller through December 31, 2016, with any unused portion on any Property for the year 2016 to be applied as a credit to the Consideration allocated for that Property at Closing. If this transaction Closes, percentage rent under the Leases for the year 2016 (if any) shall accrue through October 31, 2016 and shall be paid to Seller at Closing; provided that Buyer shall provide to Seller all information and documents necessary to calculate any such percentage rent no later than December 15, 2016, with such calculation to be an amount mutually agreed upon by Seller and Buyer prior to Closing.

Appears in 3 contracts

Samples: General Assignment and Assumption Agreement (Investors Real Estate Trust), Agreement for Sale and Purchase (Investors Real Estate Trust), Agreement for Sale and Purchase of Property (Investors Real Estate Trust)

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Rent. The parties shall Prorate all Rent actually received by Seller Tenant, in return for the month use of the Premises, and in which Closing occurs. At Closingconsideration of the covenants and agreements contained herein, to the extent actually received by Seller prior to Closing, Seller shall pay to Buyer any Landlord without further demand the sum of DOLLARS, without offset or deduction. Rent shall be paid as follows: The first installment of DOLLARS shall be due no later than , 20 Commencing ,20 rent shall be paid on the first day of each month, in advance, in equal monthly installments of DOLLARS. The last installment of DOLLARS shall be due on ,20 Rent shall be paid at the office of THE XXXXXX XX XXXXXXX, XXXXXXXXX XX, XXXXXXX, Xxxxx Xxxxxxxx 00000. Checks tendered for rent shall be made payable to THE XXXXXX OF CLEMSON. Tenant hereby acknowledges that the term of this lease is less than a full calendar year, and all prepaid Rent relating or pertaining that the contract amount has been allocated into payment installments for the ease and convenience of both Landlord and Tenant. In the event the rent is not paid at the office of the Houses prior to the Propertyclose of the business day on the 2nd day of the month, Tenant shall pay a late charge which shall be treated as additional rent. If Seller receives the 2nd day of the month falls on a Saturday, Sunday, or a holiday observed by the Houses, the rent must be placed in the designated rent drop prior to the opening of the first business day following the weekend or holiday. If rent payments are mailed, the late charge will be applied to any mail received after the 2nd day of the month. To ensure timely payment, please mail payment by the 20th day of the preceding month. If paying in person office will be open the first business day of month. For payments received late, the following charges apply: A fee of $10.00 after 2nd. day of the month and $ 5.00 per day after the fourth day of the month. If late fee is not paid when rent is paid, fee will be taken from deposit two times the fee accumulative month to month. Tenant’s initials: PAYMENTS TYPES TAKEN: CASH OR CHECK. CREDIT/DEBIT CARD WITH A $30.00 FEE PER. MO./DEP. In the event Tenant elects to pay the rent by check, Tenant shall pay Landlord a charge of THIRTY DOLLARS ($30.00), plus any additional bank charges, for Rent after Closingany check returned to Landlord for non-sufficient funds, Seller or which otherwise fails to clear the issuer’s bank. Said charge shall be due and payable immediately upon notification to Tenant of such instance, and shall be in addition to any late charges resulting from the check’s failure to clear. The returned check fee shall constitute additional rent hereunder. Landlord reserves the right at any time during the Term hereof to specify and demand a particular form of payment (whether such form of payment be cash, money order, or check) for all monies due from a Tenant who has had a payment history encompassing two (2) or more checks returned for non-sufficient funds, or other problematical payment history; provided however, Landlord shall give such specified Tenant and Guarantor no less than fifteen (15) days advance notice in the event such election is made by Landlord. Tenant acknowledges that any rent received by Landlord will first be applied to any outstanding charges (such as late charges, cleaning service fees, returned check charges) incurred by or on behalf of Tenant prior to applying the same to the current monthly rent. If the payment tendered by Tenant fails to cover the total charges outstanding, then Tenant shall immediately pay the difference, plus any late charge incurred by virtue of Tenant’s failure to Buyer the portion of such payment which relates timely pay all sums due from Tenant to the period on and after the Closing Date, and any portion of such payment which relates to the period prior to Closing which was credited to Seller at Closing. Annual Rent increases pursuant to the Leases are to be paid through the day preceding the Closing Date; provided, however, that if this transaction Closes, Buyer will receive a Rent credit at Closing equal to the annual Rent increases beginning November 1, 2016 through the day preceding the Closing Date, which the parties shall Prorate for the month in which Closing occurs. Any Capital Expenditures Obligation (as defined in the Leases) of Seller, as landlord, pursuant to the Leases with respect to an annual $350 per unit allowance toward payment or reimbursement of Capital Expenditures (as defined in the Leases) made by Tenant shall be paid by Seller through December 31, 2016, with any unused portion on any Property for the year 2016 to be applied as a credit to the Consideration allocated for that Property at Closing. If this transaction Closes, percentage rent under the Leases for the year 2016 (if any) shall accrue through October 31, 2016 and shall be paid to Seller at Closing; provided that Buyer shall provide to Seller all information and documents necessary to calculate any such percentage rent no later than December 15, 2016, with such calculation to be an amount mutually agreed upon by Seller and Buyer prior to ClosingLandlord.

Appears in 3 contracts

Samples: Lease, Lease, Lease

Rent. Tenant shall pay Landlord the full monthly Rent set forth above during each month of the Lease Term as rental for the Residence and Landlord and Tenant hereby agree that Rent for each month, including any partial month during the first or final month of the Lease Term, shall be payable in full and without proration with respect to the number of days Tenant is in possession during such month, except as otherwise expressly set forth herein with regard to Landlord's delay in delivery of the Residence. Tenant acknowledges that the full amount of Rent stated is due even though the Lease Term does not encompass a full 365 days. Rent is payable in advance without demand, abatement or set-off, at the office of Landlord or at such other place(s) as Landlord may designate, on or before the Commencement Date and the first day of each calendar month thereafter during the Lease Term. IF MAILED, THE RENT AND ALL OTHER SUMS DUE UNDER THIS LEASE SHALL BE MAILED IN SUFFICIENT TIME AND WITH ADEQUATE POSTAGE THEREON TO BE ACTUALLY RECEIVED BY LANDLORD NO LATER THAN THE FIRST DAY OF THE MONTH. ANY RENT NOT ACTUALLY RECEIVED BY LANDLORD ON OR BEFORE THE FIRST DAY OF THE MONTH SHALL BE DELINQUENT AND IN DEFAULT. The parties hereby agree if Rent is not paid in full by 5:00 p.m. on the (4th) day of the month when it is due, Tenant shall, in addition to any other remedies of Landlord, pay a late charge of $50.00 on the (5th) day of the month and an additional $10.00 per day (late fee) thereafter. Personal checks will not be accepted after the tenth (10th) day of each month, as Rental payments must be in the form of a cashier’s check or money order if tendered after the tenth (10th) day of the month. Tenant shall Prorate pay a handling charge in the amount of $30 or 5% (whichever is greater) for each dishonored check, and, in addition, if applicable, the late charges set forth above. Returned checks must be redeemed by cashier’s check, certified check or money order. All monies received by Landlord shall be applied first to non-rent items (outstanding charges such as, but not limited to, late charges, cleaning service fees, returned check charges, damages incurred by or on behalf of Tenant), and then to Rent. At Landlord’s option, Landlord may require all Rent actually received by Seller for the month in which Closing occurs. At Closing, to the extent actually received by Seller prior to Closing, Seller shall pay to Buyer any and all prepaid Rent relating or pertaining to the Property. If Seller receives payment for Rent after Closing, Seller shall immediately pay to Buyer the portion of such payment which relates to the period on and after the Closing Date, and any portion of such payment which relates to the period prior to Closing which was credited to Seller at Closing. Annual Rent increases pursuant to the Leases are other sums to be paid through in check, certified check, or money order, and by one monthly payment rather than multiple payments by each Cotenant. Landlord shall at all times have the day preceding right to refuse payment in the Closing Date; form of “cash” for monies due hereunder for security purposes. The liability for Rent, in addition to all other obligations hereunder, shall be joint and several among each and all of the individuals comprising Tenant. By providing a check for payment, Tenant is hereby given notice that Tenant’s signed and completed check may be converted to an electronic fund withdrawal upon receipt by Landlord via U.S. Mail or in designated drop box locations. Landlord’s receipt of Tenant’s check shall constitute Tenant’s authorization of such electronic fund withdrawal. Landlord has the right to not accept payment of less than the full amount of Rent, provided, however, the acceptance by Landlord of a check for a lesser amount with an endorsement or statement thereon, or upon any letter accompanying such check that if this transaction Closessuch lesser amount shall constitute payment in full, Buyer will receive a Rent credit at Closing equal shall be given no effect and Landlord may accept such payment without prejudice to the annual Rent increases beginning November 1, 2016 through the day preceding the Closing Date, any other rights or remedies which the parties shall Prorate for the month in which Closing occursLandlord may have against Tenant. Any Capital Expenditures Obligation payment, however designated, may be accepted by Landlord and applied against any part of Tenant’s then existing and then due Rent or Landlord may apply such payment against any sum then due or may retain such payment (as defined in the Leaseswithout interest) of Seller, as landlord, pursuant to the Leases with respect to an annual $350 per unit allowance toward payment or reimbursement of Capital Expenditures (as defined in the Leases) made by Tenant shall be paid by Seller through December 31, 2016, with any unused portion on any Property for the year 2016 to be applied as a credit to the Consideration allocated for that Property at Closing. If this transaction Closes, percentage rent under the Leases for the year 2016 (if any) shall accrue through October 31, 2016 and shall be paid to Seller at Closing; provided that Buyer shall provide to Seller all information and documents necessary to calculate any such percentage rent no later than December 15, 2016, with such calculation to be an amount mutually agreed upon by Seller and Buyer prior to Closingagainst Tenant’s accruing future obligations.

Appears in 3 contracts

Samples: Rental Agreement and Lease, Rental Agreement and Lease, Rental Agreement and Lease

Rent. Xxxxxx agrees to pay Landlord a rent of $0 per month, payable in advance, on or before the first day of every month during said term for a total rent of $ TBD . The parties shall Prorate all rent is payable to: CHARLESTON RENTAL PROPERTIES or as Tenant may be advised from time to time in writing. Rent actually is considered late on the 6th day of the month. NOTICE TO TENANT: IF TENANT DOES NOT PAY RENT WITHIN FIVE DAYS OF THE DUE DATE, LANDLORD CAN START TO HAVE TENANT EVICTED AND MAY TERMINATE THE RENTAL AGREEMENT, AS THIS CONSTITUTES WRITTEN NOTICE IN CONSPICUOUS LANGUAGE IN THIS WRITTEN AGREEMENT OF LANDLORD'S INTENTION TO TERMINATE AND PROCEED WITH EVICTION. TENANT WILL RECEIVE NO OTHER WRITTEN NOTICE AS LONG AS TENANT REMAINS IN THIS RENTAL UNIT. Xxxxxx further agrees to pay a late fee of 10% of the monthly rent if rent is not received by Seller for the 5th day of the month, and an additional fee of $100 on the 11th day of the month. LATE FEES WILL BE AUTOMATICALLY POSTED ON THE 6TH DAY OF THE MONTH REGARDLESS OF WHAT DAY OF THE WEEK THAT FALLS. OUTSTANDING LATE FEES WILL AUTOMATICALLY BECOME THE MOST AGED RECEIVABLE AND THEREFORE BE PAID FIRST BY XXXXXX RECEIVED BY THE TENANT. THIS COULD LEAVE YOUR RENT PAYMENT SHORT AND CAUSE MORE LATE FEES. Where the term of the Rental Agreement commences on a day other than the first day of the month or terminates on a day other than the last day of the month, Tenant shall pay rent unto the Landlord in which Closing occurs. At Closingthe amount of $ per day for each day of the month of commencement or termination of the Rental Agreement, payable prior to the extent actually received by Seller prior to Closing, Seller shall pay to Buyer any and all prepaid Rent relating or pertaining to Tenant taking possession upon commencement of the Property. If Seller receives payment for Rent after Closing, Seller shall immediately pay to Buyer the portion of such payment which relates to the period on and after the Closing DateRental Agreement, and any portion payable on the first day of such payment which relates the final month of the Rental Agreement upon xxxxxxxxxxx.Xx the event that lease renewal is possible, CRP reserves the right to inspect the period prior to Closing which was credited to Seller at Closing. Annual Rent increases pursuant to the Leases are to be paid through the day preceding the Closing Date; provided, however, that if this transaction Closes, Buyer will receive property and charge a Rent credit at Closing equal to the annual Rent increases beginning November 1, 2016 through the day preceding the Closing Date, which the parties shall Prorate for the month in which Closing occurs. Any Capital Expenditures Obligation (as defined in the Leases) of Seller, as landlord, pursuant to the Leases with respect to an annual $350 per unit allowance toward payment or reimbursement of Capital Expenditures (as defined in the Leases) made by Tenant shall be paid by Seller through December 31, 2016, with any unused portion on any Property for the year 2016 to be applied as a credit to the Consideration allocated for that Property at Closing. If this transaction Closes, percentage rent under the Leases for the year 2016 (if any) shall accrue through October 31, 2016 and shall be paid to Seller at Closing; provided that Buyer shall provide to Seller all information and documents necessary to calculate any such percentage rent no later than December 15, 2016, with such calculation to be an amount mutually agreed upon by Seller and Buyer prior to Closing45 lease renewal fee.

Appears in 3 contracts

Samples: charlestonrentalproperties.com, charlestonrentalproperties.com, charlestonrentalproperties.com

Rent. Beginning on the Commencement Date, Tenant covenants and agrees to pay, without abatement, deduction or offset except as otherwise specifically provided herein, to Landlord, “Base Rent” for the Premises, on or before the first (1st) day of the first (1st) full calendar month of the Term hereof and on or before the first (1st) day of each and every successive calendar month thereafter during the full Term of this Lease and any renewal thereof, subject to the adjustments as provided hereinafter along with any applicable tax as defined herein, at the then current rate. If the Commencement Date occurs on a day other than the first (1st) day of a calendar month, the first Base Rent payment shall be in the amount of the Base Rent for one (1) full calendar month plus the prorated Base Rent for the calendar month in which the Commencement Date falls, such payment to be due on the Commencement Date. The parties Prepaid Rent described above shall Prorate all be applied by Landlord to the Rent actually received payable for the first full month that Rent is due. If Tenant fails to pay any regular monthly installment of Base Rent or Landlord’s Operating Costs or any other monthly amounts by Seller for the seventh (7th) day of the month in which Closing occurs. At Closing, such installment is due (provided that Landlord will be required to the extent actually received by Seller prior give Tenant written notice of Tenant’s failure to Closing, Seller shall pay to Buyer any and all prepaid Rent relating or pertaining to the Property. If Seller receives payment for Rent after Closing, Seller shall immediately pay to Buyer the portion of such payment which relates to the period on and after the Closing Date, and monthly payments two (2) times in any portion of such payment which relates to the twelve (12) month period prior to Closing which was credited such late fees being charged), or if Tenant fails to Seller at Closing. Annual pay any other sum of money within thirty (30) days after written notice by Landlord to Tenant, or if any check delivered for the payment of Rent increases pursuant is returned for insufficient funds, there will be added to the Leases are to be paid through unpaid amount a late charge based on the day preceding monthly prorata percentage of the Closing Date; provided, however, that if this transaction Closes, Buyer will receive a Rent credit at Closing equal Default Rate and applied to the annual Rent increases beginning November 1, 2016 through the day preceding the Closing Date, which the parties shall Prorate amount due to compensate Landlord for the month in which Closing occursextra administrative expenses incurred. Any Capital Expenditures Obligation (as defined in the Leases) of Seller, as landlord, pursuant Notwithstanding anything to the Leases with respect contrary above, Landlord agrees that it will not impose the aforesaid late charges unless Tenant has failed to an annual $350 per unit allowance toward payment pay any installment of Rent on the due date thereof (and such failure shall not have been cured on or reimbursement before the last day of Capital Expenditures (as defined in the Leases) made by Tenant shall be paid by Seller through December 31any grace period, 2016, with any unused portion on any Property for the year 2016 to be applied as a credit to the Consideration allocated for that Property at Closing. If this transaction Closes, percentage rent under the Leases for the year 2016 (if any) shall accrue through October 31, 2016 and two (2) times in any twelve (12) month period. The Base Rent payable by Tenant to Landlord shall be paid to Seller at Closing; provided that Buyer shall provide to Seller all information and documents necessary to calculate any such percentage rent no later than December 15, 2016, in accordance with such calculation to be an amount mutually agreed upon by Seller and Buyer prior to Closing.the following schedule:

Appears in 3 contracts

Samples: Lease (Interval Leisure Group, Inc.), Lease (Interval Leisure Group, Inc.), Lease (Interval Leisure Group, Inc.)

Rent. The parties shall Prorate all Rent actually received by Seller for the month in which Closing occurs. At Closing, Tenant agrees to the extent actually received by Seller prior to Closing, Seller shall pay to Buyer any and all prepaid Landlord, or as directed in writing by Landlord, commencing on the Rent relating or pertaining to the Property. If Seller receives payment for Rent after Closing, Seller shall immediately pay to Buyer the portion of such payment which relates to the period on and after the Closing Commencement Date, and any portion thereafter monthly, in advance, on the first (1st) day of such payment which relates to each and every calendar month during the period prior to Closing which was credited to Seller at Closing. Annual Rent increases pursuant to Lease Term (except that the Leases are to first month’s rent shall be paid through the day preceding the Closing Date; provideddue upon execution of this Lease), however, that if this transaction Closes, Buyer will receive a Rent credit at Closing sum equal to the annual Monthly Rent increases beginning November 1specified in Section 1,2(k) and Exhibit B, 2016 through the day preceding the Closing Dateplus applicable Florida Sales Tax and any use taxes levied or assessed against all rental payments, at Landlord’s Address as set forth in Section 1.2(b) or at such other place as Landlord may from time to time designate by written notice. Until notice of some other designation is given, Rent and all other charges for which the parties shall Prorate for the month in which Closing occurs. Any Capital Expenditures Obligation (as defined in the Leases) of Seller, as landlord, pursuant to the Leases with respect to an annual $350 per unit allowance toward payment or reimbursement of Capital Expenditures (as defined in the Leases) provision is herein made by Tenant shall be paid by Seller through December 31remittance payable to Landlord, 2016and all remittances so received as aforesaid, with or by any unused portion on any Property for the year 2016 to subsequently designated recipient, shall be applied treated as a credit payment to Landlord. Rent for any partial month shall be prorated on a daily basis, and if the Consideration allocated for that Property at Closing. If this transaction ClosesLease Term commences on a day other than the first day of a calendar month, percentage rent under the Leases for first payment which Tenant makes to Landlord shall be payable on the year 2016 (if any) shall accrue through October 31, 2016 Commencement Date and shall be equal to a proportionate part of the monthly installment of Rent for the partial month from the Commencement Date to the last day of the calendar month in which such Commencement Date occurs, plus the installment of Rent for the succeeding calendar month. Other charges payable by Tenant on a monthly basis, if hereinafter provided, likewise shall be prorated, and the first payment on account thereof shall be determined in similar fashion; and other provisions of this Lease calling for monthly payments shall be read as incorporating this undertaking by Tenant. Except as herein expressly otherwise provided, the Rent and all additional rent and other charges for which provision is made in this Lease (“Rent”) shall be paid by Tenant to Seller at Closing; provided Landlord without setoff, deduction or abatement. Any installment of rent which is not paid when it becomes due shall be subject to a late charge of the maximum interest allowed by Law and an administrative overhead charge of Twenty and 00/100 Dollars ($20.00) per day overdue until that Buyer shall provide to Seller all information and documents necessary to calculate any such percentage installment of rent no later than December 15, 2016, with such calculation to be an amount mutually agreed upon by Seller and Buyer prior to Closinghas been paid.

Appears in 2 contracts

Samples: Lease Agreement (La Rosa Holdings Corp.), Lease Agreement (La Rosa Holdings Corp.)

Rent. The parties shall Prorate all Rent actually received by Seller 1.01. (a) Tenant hereby agrees to pay to Landlord a basic annual rent (the "Basic Annual Rent") at an annual rate equal to (i) for the month period (the "First Period") commencing on the Rent Commencement Date (as such term is defined in which Closing occurs. At ClosingArticle 2 hereof) and ending on the day immediately preceding the fifth (5th) anniversary of the Rent Commencement Date, to the extent actually received product of (x) Twenty and 50/100 Dollars ($20.50) multiplied by Seller prior to Closing(y) the number of rentable square feet contained in the Demised Premises, Seller shall pay to Buyer any and all prepaid Rent relating or pertaining to the Property. If Seller receives payment (ii) for Rent after Closing, Seller shall immediately pay to Buyer the portion of such payment which relates to the period commencing on and the day after the Closing First Period and ending on the Expiration Date, the product of (x) Twenty-three and any portion 00/100 Dollars ($23.00) multiplied by (y) the number of such payment which relates to rentable square feet contained in the period prior to Closing which was credited to Seller at ClosingDemised Premises. Basic Annual Rent increases pursuant to the Leases are to be paid through the day preceding the Closing Date; provided, however, that if this transaction Closes, Buyer will receive a Rent credit at Closing equal to the annual Rent increases beginning November 1, 2016 through the day preceding the Closing Date, which the parties shall Prorate for the month in which Closing occurs. Any Capital Expenditures Obligation (as defined in the Leases) of Seller, as landlord, pursuant to the Leases with respect to an annual $350 per unit allowance toward payment or reimbursement of Capital Expenditures (as defined in the Leases) made by Tenant shall be paid by Seller through December 31Tenant in equal monthly installments in advance on the first day of each calendar month during the Term from and after the Rent Commencement Date (as said term is defined in Article 2 hereof), 2016at the office of Landlord or such other place as Landlord may designate, with without any unused portion on any Property for set off or deduction whatsoever, except such deductions as are specifically referred to herein. The first full month's installment of Basic Annual Rent and the year 2016 to be applied as a credit to the Consideration allocated for that Property at Closing. If this transaction Closes, percentage rent under the Leases for the year 2016 (if any) shall accrue through October 31, 2016 and security deposit described in Article 40 hereof shall be paid by Tenant to Seller at Closing; provided that Buyer Landlord upon the execution of this Lease. Should the Rent Commencement Date fall on any day other than the first day of a month, then the Basic Annual Rent for such month shall provide be prorated on a per diem basis, and Tenant agrees to Seller all information and documents necessary to calculate any pay the amount thereof for such percentage rent no later than December 15, 2016, with such calculation to be an amount mutually agreed upon by Seller and Buyer prior to Closingpartial month on the Rent Commencement Date.

Appears in 2 contracts

Samples: Office Lease (Exodus Communications Inc), Office Lease (Exodus Communications Inc)

Rent. Tenant shall pay monthly rent and other charges in the following amounts: MONTHLY PREMISES RENT $ OTHER MONTHLY CHARGES (SPECIFY) $ $ $ TOTAL RENT $ The parties shall Prorate all Rent actually total amount set forth above is considered rent and is payable in advance by the 1st day of each and every month during said term to Landlord at 0000 Xxxxxxxx Xxx SE, Auburn, Washington 98092 or any such other place that the Landlord may from time to time designate. Any rent unpaid by the due date is termed delinquent. Landlord may, at Landlord’s option, apply funds received by Seller for from Tenant to balances due in the month in which Closing occursfollowing order: damage, repairs, unpaid utilities, late payment charges, notice fees, miscellaneous charges such as parking or storage rental, and past due rent, and current rent. At Closingany time during a month to month tenancy, rent may be increased on 30 days written notice. Rent received on or after the day of each month shall result in assessment against Tenant of a $ late payment charge plus $ each additional day thereafter that rent has not been paid in full, all of which shall be considered to be additional rent and must be paid at the time the delinquent rent is paid. Any check which fails to clear the bank shall be treated as unpaid rent and shall be subject to the extent actually received aforementioned late payment charge, plus a $ returned check fee. Should Tenant submit a check that is dishonored or returned for non-sufficient funds, or should Tenant offer payment to cure any default such as following receipt of a 3 Day Notice to Pay or Vacate, Tenant shall make such payment by Seller prior to Closingcash, Seller shall pay to Buyer any and all prepaid Rent relating cashier’s check or pertaining to the Propertymoney order. If Seller receives payment Tenant gives Landlord a check that is returned for Rent after Closingnon-payment, Seller shall immediately pay to Buyer the portion of such payment which relates to the period on and after the Closing Date, and any portion of such payment which relates to the period prior to Closing which was credited to Seller at Closing. Annual Rent increases pursuant to the Leases are to be paid through the day preceding the Closing Date; provided, however, that if this transaction Closes, Buyer will receive a Rent credit at Closing equal to the annual Rent increases beginning November 1, 2016 through the day preceding the Closing Date, which the parties shall Prorate for the month in which Closing occurs. Any Capital Expenditures Obligation (as defined in the Leases) of Seller, as landlord, pursuant to the Leases with respect to an annual $350 per unit allowance toward payment or reimbursement of Capital Expenditures (as defined in the Leases) made all future payments by Tenant shall be paid made by Seller through December 31cash, 2016cashier’s check or money order. Notwithstanding the foregoing, with Landlord may issue a 3 Day Notice to Pay or Vacate immediately after the rental due date without waiting until late payment charges begin to accrue. If for reason of non-payment of rent Landlord shall give a statutory 3 Day Notice to Pay or Vacate, or if Landlord shall lawfully issue any unused portion on any Property for the year 2016 other notice permitted pursuant to be applied as a credit RCW 59.12 et seq. or RCW 59.18 et seq., Tenant agrees to pay in addition to the Consideration allocated delinquent rent and late payment charges provided for that Property at Closing. If this transaction Closesabove, percentage rent under the Leases sum of $ for preparing and giving the year 2016 (if any) shall accrue through October 31notice, 2016 and which shall be paid to Seller at Closing; provided that Buyer shall provide to Seller all information and documents necessary to calculate any such percentage rent no later than December 15, 2016, by the deadline for compliance with such calculation to be an amount mutually agreed upon by Seller and Buyer prior to Closingthe Notice.

Appears in 2 contracts

Samples: Apartment Rental Agreement, Agreement

Rent. The Lessor and Lessee acknowledge and agree that the lease of the SCH Hospital Facility by Lessor to Lessee pursuant to this Facility Lease is an integral part of a larger transaction described in detail in the APA. It is the express understanding of the parties shall Prorate all Rent actually received by Seller for that Lessor is leasing the month Premises to Lessee in which Closing occurs. At Closingconsideration of the obligation and undertakings of Lessee hereunder and under the APA, including, without limitation, the obligation to operate the Business at the SCH Hospital Facility as and to the extent actually received set forth herein and in the APA, and that such obligations and undertakings, together with the rent payable hereunder and the consideration paid by Seller Lessee to Lessor under the APA, collectively represent good and valuable consideration for the lease of the Premises to Lessee. Pursuant to Section 1.6(c) of the APA, Lessor may elect one of three options for the payment by Lessee of the total consideration due to Lessor in connection with the transactions contemplated by the APA, and the election made by the Lessor will affect the rent payable by Lessee hereunder. Therefore, upon the making (or deemed making) of such election by Lessor in accordance with Section 1.6(c) of the APA, Lessor and Lessee shall initial below the rental option corresponding to the option selected (or deemed selected) by Lessor under the APA, and the provision so initialed below shall determine the fixed rent payable under this Facility Lease for the Term (the “Fixed Rent”): Lessor Lessee If Lessor elects the option set forth in Section 1.6(c)(i) of the APA, then Lessee agrees to pay to Lessor, on or prior to Closingthe first day of each calendar month during the Term, Seller Fixed Rent in the amount of $11,666.66/month ($140,000.00/year). If the Term begins on a day other than the first day of a calendar month or ends on a day other than the last day of a calendar month, then the Fixed Rent payable for such partial month shall be prorated based on the number of days in such month falling within the Term. The Fixed Rent payable hereunder shall not be subject to reset or escalation during the Term. Lessor Lessee If Lessor elects the option set forth in Section 1.6(c)(ii) or elects (or is deemed to elect) the option set forth in Section1.6(c)(iii) of the APA, then Lessee agrees to pay to Buyer any and all prepaid Rent relating Lessor, on or pertaining prior to the Property. If Seller receives Effective Time, a one-time, prepaid Fixed Rental payment in the amount of $1.00, which shall constitute the only Fixed Rent due and payable for Rent after Closing, Seller shall immediately pay to Buyer the portion duration of such payment which relates to the period on and after the Closing Date, Term and any portion of such payment which relates to the period prior to Closing which was credited to Seller at Closing. Annual Rent increases pursuant to the Leases are to be paid through the day preceding the Closing Date; provided, however, that if this transaction Closes, Buyer will receive a Rent credit at Closing equal to the annual Rent increases beginning November 1, 2016 through the day preceding the Closing Date, which the parties shall Prorate for the month in which Closing occurs. Any Capital Expenditures Obligation (as defined in the Leases) of Seller, as landlord, pursuant to the Leases with respect to an annual $350 per unit allowance toward payment or reimbursement of Capital Expenditures (as defined in the Leases) made by Tenant shall be paid by Seller through December 31, 2016, with any unused portion on any Property for the year 2016 to be applied as a credit to the Consideration allocated for that Property at Closing. If this transaction Closes, percentage rent under the Leases for the year 2016 (if any) shall accrue through October 31, 2016 and shall be paid to Seller at Closing; provided that Buyer shall provide to Seller all information and documents necessary to calculate any such percentage rent no later than December 15, 2016, with such calculation to be an amount mutually agreed upon by Seller and Buyer prior to Closingrenewals thereof.

Appears in 2 contracts

Samples: Asset Purchase Agreement, Facility Lease Agreement

Rent. The parties A. During each calendar year, or portion thereof, falling within the Lease Term, Tenant shall Prorate all Rent actually received pay to Landlord as Additional Base Rental hereunder the sum of (1) Tenant's Pro Rata Share of the amount, if any, by Seller which Taxes (hereinafter defined) for the applicable calendar year exceed the Tax Base Amount plus (2) Tenant's Pro Rata Share of the amount, if any, by which Expenses for the applicable calendar year exceed the Expense Base Amount. Tenant's Pro Rata Share of increases in Taxes and Tenant's Pro Rata Share of increases in Expenses shall be computed separate and independent of each other prior to being added together to determine the "Excess". In the event that Taxes and/or Expenses, as the case may be, in any calendar year decrease below the amount of the Tax Base Amount or the Expense Base Amount, as applicable, Tenant's Pro Rata Share of Taxes and/or Tenant's Pro Rata Share of Expenses, as the case may be, for such calendar year shall be deemed to be $0, it being understood that Tenant shall not be entitled to any credit or offset if Taxes decrease below the Tax Base Amount or if Expenses decrease below the Expense Base Amount. Prior to January 1 of the calendar year immediately following the Base Year, and prior to January 1 of each subsequent calendar year during the Lease Term, or as soon thereafter as practical, Landlord shall make a good faith estimate of the Excess for the applicable calendar year and Tenant's Pro Rata Share thereof. On or before the first day of each month during such calendar year, Tenant shall pay to Landlord, as Additional Base Rental, a monthly installment equal to one-twelfth of Tenant's Pro Rata Share of Landlord's estimate of the Excess. Landlord shall have the right from time to time during any such calendar year to revise the estimate of Basic Costs and the Excess for such year and provide Tenant with a revised statement therefor, and thereafter the amount Tenant shall pay each month shall be based upon such revised estimate. If Landlord does not provide Tenant with an estimate of the Basic Costs and the Excess by January 1 of any calendar year, Tenant shall continue to pay a monthly installment based on the previous year's estimate until such time as Landlord provides Tenant with an estimate of Basic Costs and the Excess for the current year. Upon receipt of such current year's estimate, an adjustment shall be made for any month during the current year with respect to which Tenant paid monthly installments of Additional Base Rental based on the previous year's estimate. Tenant shall pay Landlord for any underpayment within thirty (30) days after demand. Any overpayment shall, at Landlord's option, be refunded to Tenant within thirty (30) days or credited against the next installments of Base Rental and Additional Base Rental due for the months immediately following the furnishing of such estimate. Any amounts paid by Tenant based on any estimate shall be subject to adjustment pursuant to the immediately following paragraph when actual Basic Costs are determined for such calendar year. As soon as is practical following the end of each calendar year during the Lease Term, Landlord shall furnish to Tenant a statement of Landlord's actual Basic Costs and the actual Excess for the previous calendar year. If, however, Landlord fails to furnish Tenant a statement of actual Basic Costs for a given calendar year within twelve (12) months after the end of said calendar year and such failure continues for an additional sixty (60) days after Landlord's receipt of a written request from Tenant that such statement of actual Basic Costs should be furnished (the "Request for Statement of Basic Costs"), and provided the Request for Statement of Basic Costs contains a statement that Landlord's failure to furnish such statement may prejudice Landlord's right to collect any underpayment of Basic Costs from Tenant as described in which Closing occurs. At ClosingSection IV.A. of the Lease, then Landlord shall be deemed to have waived any rights to recover any underpayment of Basic Costs from Tenant applicable to said calendar year (except to the extent such underpayment is attributable to a default by Tenant in its obligation to make estimated payments of Basic Costs). Further, in no event shall the foregoing provision describing the time period during which Landlord is to deliver the statement of actual Basic Costs in any manner limit or otherwise prejudice Landlord's right to modify such statement of actual costs after such time period if new, additional or different information relating to such statement of actual costs is discovered or otherwise determined. If the estimated Excess actually received paid by Seller Tenant for the prior year is in excess of Tenant's actual Pro Rata Share of the Excess for such prior year, then Landlord shall apply such overpayment against Base Rental and Additional Base Rental due or to become due hereunder, provided if the Lease Term expires prior to Closingthe determination of such overpayment, Seller Landlord shall refund such overpayment to Tenant within thirty (30) days after first deducting the amount of any Rent due hereunder. Likewise, Tenant shall pay to Buyer Landlord, within ten (10) days after demand, any and all prepaid Rent relating or pertaining to the Property. If Seller receives payment for Rent after Closing, Seller shall immediately pay to Buyer the portion of such payment which relates to the period on and after the Closing Date, and any portion of such payment which relates to the period prior to Closing which was credited to Seller at Closing. Annual Rent increases pursuant to the Leases are to be paid through the day preceding the Closing Date; provided, however, that if this transaction Closes, Buyer will receive a Rent credit at Closing equal to the annual Rent increases beginning November 1, 2016 through the day preceding the Closing Date, which the parties shall Prorate for the month in which Closing occurs. Any Capital Expenditures Obligation (as defined in the Leases) of Seller, as landlord, pursuant to the Leases underpayment with respect to an annual $350 per unit allowance toward payment the prior year, whether or reimbursement of Capital Expenditures (as defined in not the Leases) made Lease has terminated prior to receipt by Tenant of a statement for such underpayment, it being understood that this clause shall be paid by Seller through December 31, 2016, with any unused portion on any Property for survive the year 2016 to be applied as a credit to expiration of the Consideration allocated for that Property at Closing. If this transaction Closes, percentage rent under the Leases for the year 2016 (if any) shall accrue through October 31, 2016 and shall be paid to Seller at Closing; provided that Buyer shall provide to Seller all information and documents necessary to calculate any such percentage rent no later than December 15, 2016, with such calculation to be an amount mutually agreed upon by Seller and Buyer prior to ClosingLease.

Appears in 2 contracts

Samples: Office Lease Agreement (Viewlocity Inc), Office Lease Agreement (Viewlocity Inc)

Rent. (a) Tenant shall pay to Landlord (or to Lender, if directed by Landlord), as minimum annual rent for the Leased Premises during the Term, basic rent (“Basic Rent”), payable in advance commencing on the first day of the first month following the month in which the Commencement Date occurs (unless the Commencement Date is the first day of a month, in which case commencing on the Commencement Date) and continuing on the first day of each calendar month thereafter during the Term (the said days being called the “Basic Rent Payment Dates”), and shall pay the same at Landlord’s address set forth below, or at such other place as Landlord from time to time may designate to Tenant in writing, in funds which at the time of such payment shall be legal tender for the payment of public or private debts in the United States of America and, if required by Landlord, by wire transfer in immediately available federal funds to such account in such bank as Landlord shall designate, from time to time. The parties Basic Rent due and payable during the first Lease Year shall Prorate all be the Basic Rent actually received set forth on the attached Schedule 6(a). Thereafter, Basic Rent for each subsequent Lease Year shall be an amount equal to One Hundred and One and One-Half Percent (101.5%) of the Basic Rent due and payable during the immediately preceding Lease Year. Upon request by Seller Landlord, Tenant shall establish arrangements whereby payments of the Basic Rent and Additional Rent are transferred by Automated Clearing House Debit from an account established by Tenant at a United States bank or other financial institution to such account as Landlord may designate. If the Commencement Date shall occur on a date other than the first day of a calendar month, then, Basic Rent for the period from and including the Commencement Date through and including the last day of the month in which the Commencement Date occurs shall be paid, in advance, on the date hereof, in an amount prorated by (i) dividing the monthly installment of Basic Rent due for the month in which Closing occurs. At Closingthe Commencement Date occurs by the number of days in such month, to and (ii) multiplying such sum by the extent actually received by Seller prior to Closing, Seller shall pay to Buyer any and all prepaid Rent relating or pertaining to the Property. If Seller receives payment for Rent after Closing, Seller shall immediately pay to Buyer the portion numbers of days remaining in such payment which relates to the period on month from and after the Closing Commencement Date, and any portion of such payment which relates to the period prior to Closing which was credited to Seller at Closing. Annual Rent increases pursuant to the Leases are to be paid through the day preceding the Closing Date; provided, however, that if this transaction Closes, Buyer will receive a Rent credit at Closing equal to the annual Rent increases beginning November 1, 2016 through the day preceding the Closing Date, which the parties shall Prorate for the month in which Closing occurs. Any Capital Expenditures Obligation (as defined in the Leases) of Seller, as landlord, pursuant to the Leases with respect to an annual $350 per unit allowance toward payment or reimbursement of Capital Expenditures (as defined in the Leases) made by Tenant shall be paid by Seller through December 31, 2016, with any unused portion on any Property for the year 2016 to be applied as a credit to the Consideration allocated for that Property at Closing. If this transaction Closes, percentage rent under the Leases for the year 2016 (if any) shall accrue through October 31, 2016 and shall be paid to Seller at Closing; provided that Buyer shall provide to Seller all information and documents necessary to calculate any such percentage rent no later than December 15, 2016, with such calculation to be an amount mutually agreed upon by Seller and Buyer prior to Closing.

Appears in 2 contracts

Samples: Lease Agreement (Lehigh Gas Partners LP), Lease Agreement (Lehigh Gas Partners LP)

Rent. In consideration of this Lease, Tenant promises and agrees to pay Landlord the Base Rent, Additional Expenses (subject to adjustment as provided in Exhibit E), License Fees (as set forth in Exhibit E), and such other sums as may be provided in this Lease, without deduction or setoff, for each month of the Lease Term, with payment of all sums due in monthly installments on the first day of each calendar month during the Term. The total monthly amount due Landlord from Tenant hereunder is referred to as “Adjusted Rental”, notwithstanding that such amount may include fees characterized by the parties as License Fees. The first such monthly installment, constituting Tenant’s prepayment of the first calendar month’s Base Rent and License Fees due under the Lease, together with the Security Deposit, shall Prorate all Rent actually be payable by Tenant to Landlord as provided in Paragraph 6 of Exhibit D attached hereto. A like monthly installment shall be due and payable without demand beginning on the first day of the calendar month which is the second calendar month of the Lease Term and continuing on the first day of each succeeding calendar month during the Term hereof, subject to credit of Security Deposit balance in the 36th full calendar month of the Term. In the event that Tenant shall occupy the Premises prior to the first day of a calendar month, or the Lease shall otherwise commence according to its terms prior to the first day of a calendar month, then on or before such Commencement Date, Tenant shall also pay to Landlord a prorated amount for the first partial month’s Adjusted Rental with such prorated amount based on the number of days in such calendar month and the fraction of such month remaining from the Commencement Date to month’s end. In the event any installment of the Adjusted Rental, or any portion thereof, is not received by Seller the fifth (5th) day of the calendar month when due, then (without in any way implying Landlord’s consent to such late payment) Tenant, agrees to pay, in addition to said installment of the Adjusted Rental, a late payment charge equal to five percent (5%) of the installment of the Adjusted Rental, or portion thereof, which is overdue, it being understood that said late payment charge shall be for the month purpose of reimbursing Landlord for the additional costs and expenses which Landlord presently expects to incur in connection with the handling and processing of late installment payments of the Adjusted Rental which Closing occursbecome owing by Tenant to Landlord hereunder. At ClosingIn addition, if Tenant fails to pay any installment of Adjusted Rental, or any portion thereof, within thirty (30) days after the extent actually received by Seller prior due date thereof, or fails to Closingpay any other sum (other than Adjusted Rental) which may be due Landlord hereunder within thirty (30) days of date of invoice therefore, Seller then, in either such event, Tenant shall pay to Buyer any and all prepaid Rent relating or pertaining to Landlord interest on such overdue amounts from the Property. If Seller receives payment for Rent after Closing, Seller shall immediately pay to Buyer the portion of such payment which relates to the period on and after the Closing Date, and any portion of such payment which relates to the period prior to Closing which was credited to Seller due date thereof until paid at Closing. Annual Rent increases pursuant to the Leases are to be paid through the day preceding the Closing Date; provided, however, that if this transaction Closes, Buyer will receive a Rent credit at Closing equal to the annual Rent increases beginning November 1, 2016 through the day preceding the Closing Date, which the parties shall Prorate for the month in which Closing occurs. Any Capital Expenditures Obligation (as defined in the Leases) of Seller, as landlord, pursuant to the Leases with respect to an annual $350 per unit allowance toward payment rate (the “Past Due Rate”) which equals the lesser of (i) fifteen percent (15%) or reimbursement of Capital Expenditures (as defined in ii) the Leases) made highest rate then permitted by Tenant shall be paid by Seller through December 31, 2016, with any unused portion on any Property for the year 2016 to be applied as a credit to the Consideration allocated for that Property at Closing. If this transaction Closes, percentage rent under the Leases for the year 2016 (if any) shall accrue through October 31, 2016 and shall be paid to Seller at Closing; provided that Buyer shall provide to Seller all information and documents necessary to calculate any such percentage rent no later than December 15, 2016, with such calculation to be an amount mutually agreed upon by Seller and Buyer prior to Closinglaw.

Appears in 2 contracts

Samples: Lease Agreement, Office Building Lease Agreement (Rackspace Inc)

Rent. The parties shall Prorate all Rent actually received by Seller for the month in which Closing occurs. At Closing, to the extent actually received by Seller prior to Closing, Seller Tenant shall pay base rent (referred to Buyer any herein as “Base Rent” or “Rent”) to Landlord at the place as Landlord may from time to time designate, in coin or currency which, shall be Sixty (60) Million Japanese Yen per year, payable in equal monthly installments of Five (5) Million Japanese Yen. Such Base Rent shall be reviewed annually and all prepaid will be determined by using the Rent relating or pertaining to formula (“Formula”) set forth in the Propertyattached Exhibit B as made a part hereof. If Seller receives payment for Such new Base Rent amount after Closingannual review of the Variables, Seller will commence on April 1 of each Lease Year and end on March 31 of the following Lease Year. Landlord shall immediately pay to Buyer inform Tenant of the portion of such payment which relates to the period on and after the Closing Date, and any portion of such payment which relates to the period prior to Closing which was credited to Seller at Closing. Annual annual adjusted Rent increases amount pursuant to the Leases are to be paid through the day preceding the Closing Date; provided, however, that if this transaction Closes, Buyer will receive a form of Landlord Notice of Annual Rent credit at Closing equal to the annual Rent increases beginning November 1, 2016 through the day preceding the Closing DateAdjustment, which is attached hereto as Exhibit D. All rent payments shall be made in advance on or before the parties 15th day of each and every month during the Term, without any set-off or deduction whatsoever, except that Tenant shall Prorate pay the first full monthly installment at the time of execution of this Lease. If the Term commences other than on the first day of a month or ends other than on the last day of the month, the Rent for such month shall be prorated. Notwithstanding the month in which Closing occurs. Any Capital Expenditures Obligation (as defined in foregoing, with respect to Rent due from the Leases) Effective Date until the execution date of Sellerthis Lease, as landlord, Landlord shall send applicable monthly invoices reflecting all such Rent due by Tenant and Tenant shall promptly pay such Rent pursuant to the Leases with respect to an annual $350 per unit allowance toward payment or reimbursement terms of Capital Expenditures (as defined in the Leases) made by Tenant this Lease. All of any sums and payments due and owning under this Lease shall be paid by Seller through December 31deemed “Rent.” For purposes of this Lease, 2016, with any unused portion on any Property for the a lease year 2016 to be applied as a credit to the Consideration allocated for that Property at Closing. If this transaction Closes, percentage rent under the Leases for the year 2016 (if any) shall accrue through October 31, 2016 and shall be paid to Seller at Closing; provided that Buyer the twelve (12) month period commencing with the first day of the month following the Commencement Date (or, if the Commencement Date falls on the first day of a month, commencing on the Commencement Date) and ending on the last day of the twelfth (12th) full calendar month thereafter, and each succeeding twelve (12) calendar month period (a “Lease Year”), and this Lease shall provide to Seller all information and documents necessary to calculate any such percentage rent no later than December 15then terminate, 2016unless extended, with such calculation to be an amount mutually agreed upon by Seller and Buyer prior to Closingon the last day of the twentieth Lease Year (the “Expiration Date”).

Appears in 2 contracts

Samples: Lease Agreement (Opnext Inc), Lease Agreement (Opnext Inc)

Rent. The parties shall Prorate Tenant agrees to pay all Rent actually received to Landlord during the Term at the times and in the manner provided in this Lease, without demand, set-off or counterclaim. The Base Rent shall be due and payable on the first day of each calendar month, commencing on the Commencement Date and continuing thereafter throughout the Term. Tenant hereby agrees to pay the Rent to Landlord at Landlord’s address as provided herein (or such other address as may be designated by Seller Landlord from time to time) monthly in advance. If the date upon which the payment of Base Rent commences, is other than the first day of a calendar month or if this Lease terminates on a day other than the last day of a calendar month, then the installments of the Base Rent for such month or months shall be prorated on a daily basis and the installment or installments so prorated shall be paid in advance. If any Base Rent payment required to be paid or which becomes due under this Lease is not paid by the tenth (10th) day following the day on which it is due, a service charge of five percent (5%) of such amounts due shall become due and payable in addition to the amounts due. Said service charge is for the month purpose of reimbursing Landlord for the extra costs and expenses in connection with the handling and processing of late payments. In addition to such service charge, if any Base Rent payment is not paid by the tenth (10th) day following the day on which Closing occurs. At Closingit becomes due, to the extent actually received by Seller prior to Closing, Seller Tenant shall pay to Buyer any Landlord, in addition to such Base Rent payment and all prepaid the service charge, interest on such Base Rent relating or pertaining to payment calculated at the PropertyDefault Rate from the date such Base Rent payment was due until paid by Tenant. If Seller receives payment for any Additional Rent after Closing, Seller shall immediately pay to Buyer the portion of such payment which relates to the period on and after the Closing Date, and any portion of such payment which relates to the period prior to Closing which was credited to Seller at Closing. Annual Rent increases pursuant to the Leases are required to be paid through or which becomes due under this Lease is not paid when due, Tenant shall pay to Landlord, in addition to such amounts, interest on such amounts at the day preceding Default Rate from the Closing Date; provideddate such amounts were due until paid by Tenant. Such service charge and interest shall be cumulative of any other remedies Landlord may have for nonpayment of Rent and other sums payable under this Lease. If three (3) consecutive monthly Base Rent payments or any ten (10) [in total, howevercumulative from the beginning of the Term] monthly Base Rent payments during the Term (or any renewal or extension thereof) are not received by Landlord within ten (10) days of the due date, that if this transaction Closes, Buyer will receive a the Base Rent credit at Closing hereunder shall automatically become due and payable by Tenant in advance in quarterly installments equal to the annual three (3) months’ Base Rent increases beginning November 1, 2016 through the day preceding the Closing Date, which the parties each. Landlord shall Prorate for the month in which Closing occurs. Any Capital Expenditures Obligation (as defined notify Tenant of such change in the Leases) time for payment of SellerBase Rent and, as landlordthereafter, pursuant to the Leases with respect to an annual $350 per unit allowance toward payment or reimbursement first of Capital Expenditures (as defined in the Leases) made by Tenant such quarterly Base Rent payments shall be paid by Seller through December 31, 2016, with any unused portion due and payable on any Property for the year 2016 to be applied as a credit to first day of the Consideration allocated for that Property at Closingnext succeeding month and on the first day of every third (3rd) month thereafter. If this transaction Closes, percentage rent under the Leases for the year 2016 (if any) shall accrue through October 31, 2016 and This remedy shall be paid to Seller at Closing; provided that Buyer shall provide to Seller all information and documents necessary to calculate cumulative of any such percentage rent no later than December 15, 2016, with such calculation to be an amount mutually agreed upon by Seller and Buyer prior to Closingother remedies of Landlord under this Lease for nonpayment of Rent.

Appears in 2 contracts

Samples: Lease Agreement, Commercial Lease Agreement (CareView Communications Inc)

Rent. The parties (a) Sublessee shall Prorate all Rent actually received by Seller pay to Sublessor as Basic Rental as for the month in which Closing occurs. At ClosingSubleased Premises during the Term of this Sublease Agreement the amount set forth below: Period Monthly Rent ------ ------------ Commencement Date to Expiration $6,118.13 In addition to the Basic Rental, Sublessee shall also pay to Sublessor all Additional Rent payable by Sublessor under the Lease including self insurance costs, to the extent actually received by Seller prior to Closing, Seller shall pay to Buyer any and all prepaid Rent relating or pertaining allocable to the PropertySubleased Premises. If Seller receives payment for Rent after ClosingFor purposes of calculating such Additional Rent, Seller Sublessee's "proportionate share" shall immediately pay to Buyer be a fraction, the portion numerator of such payment which relates to is the period on and after the Closing Date, and any portion of such payment which relates to the period prior to Closing which was credited to Seller at Closing. Annual Rent increases pursuant to the Leases are to be paid through the day preceding the Closing Date; provided, however, that if this transaction Closes, Buyer will receive a Rent credit at Closing equal to the annual Rent increases beginning November 1, 2016 through the day preceding the Closing Date, which the parties shall Prorate for the month in which Closing occurs. Any Capital Expenditures Obligation (as defined space contained in the LeasesSubleased Premises (8,540 square feet as of the Commencement Date) and the denominator of Seller, as landlord, pursuant to which is the Leases with respect to an annual $350 per unit allowance toward payment or reimbursement of Capital Expenditures (as defined entire space contained in the Leases) made by Tenant Building (209,088 square feet). The respective amounts set forth above shall be paid on or before the 1st day of each month of the Term. If Sublessee fails or refuses to pay any installment of Basic Rental within five (5) business days after the date such installment is due, or Additional Rent within fifteen (15) business days after Sublessee's receipt of written demand therefor, Sublessor shall be entitled to collect a late charge equal to five percent (5%) multiplied by Seller through December 31, 2016, with any unused portion on any Property the amount of the late payment to compensate Sublessor for the year 2016 additional expense involved in handling delinquent payments and not as interest. If the payment of a late charge required by this Section is found to constitute interest notwithstanding the contrary intention of Sublessor and Sublessee, the late charge shall be limited to the maximum amount of interest that lawfully may be collected by Sublessor under applicable law, and if any payment is determined to exceed such lawful amount, the excess shall be applied as a credit to any unpaid rent then due and payable hereunder and/or credited against the Consideration allocated for that Property at Closingnext succeeding installment of rent payable hereunder. If this transaction Closesall rent payable hereunder has been paid in full, percentage rent under the Leases for the year 2016 (if any) shall accrue through October 31, 2016 and any excess shall be paid refunded to Seller at Closing; provided that Buyer shall provide to Seller all information and documents necessary to calculate any such percentage rent no later than December 15, 2016, with such calculation to be an amount mutually agreed upon by Seller and Buyer prior to ClosingSublessee.

Appears in 2 contracts

Samples: Industrial Lease Agreement (Adams Laboratories, Inc.), Industrial Lease Agreement (Adams Respiratory Therapeutics, Inc.)

Rent. The parties rent shall Prorate all be Monthly Rent actually received per month. Rent shall be payable as follows: Rent is due and payable on the 1st of the month, in advance and without demand. If rental is not paid by Seller the tenth (10th) day after the 1st of the month, Tenant agrees to pay a LATE CHARGE of LateFee1. Any account fifteen (15 days) or more days delinquent will be assessed an additional $25.00 Pre-Lien Fee. A $25.00 Lien Fee will be assessed at 30 days past due. If Lessor is caused to advertise Tenant's property for lien sale, Tenant will be assessed an advertising charge of $100.00 per advertisement. Tenant agrees to pay a Check Fee charge for each RETURNED CHECK. The late charges and returned check charges shall be deemed as and for rent. A tenant will be charged a fee of $25 to cut their lock, if necessary. Partial payment of rent does not waive or void the legal effect of prior notices given to Tenant unless expressly agreed to in writing by Lessor. Lessor reserves the right to refuse payment by cheek. All rental payments shall be made to the Lessor at the above stated address or at such other place as shall be designated in writing from time to time by Lessor. Any additional charges shall be payable concurrently with the rent payment or at the time the additional charge is levied. In the event of a seizure under Paragraph 12 hereof, it is understood and agreed that the liability of Tenant for the month rents, charges, costs, and expenses provided for in which Closing occursthis Rental Agreement shall not be relinquished, diminished or extinguished prior to payment in full or termination of this Agreement, whichever occurs first in time. At ClosingIt is further agreed that Tenant shall be personally liable for all rents, charges, costs, expenses to the extent actually received by Seller prior to Closingdate of termination of this Agreement, Seller shall pay to Buyer any and all prepaid Rent relating or pertaining to expenses incurred for the Property. If Seller receives payment for Rent after Closingsale and/or disposition of the property, Seller shall immediately pay to Buyer the portion of such payment which relates to the period on and after the Closing Dateadvertising costs, attorneys' fees, court costs, and any portion costs of such payment which relates repair and damages to the period prior to Closing which was credited to Seller at ClosingSpace or Facility as provided for below. Annual Rent increases pursuant to In the Leases are to be paid through event of a sale or other disposition, it is agreed that the day preceding the Closing Date; provided, however, that if this transaction Closes, Buyer will receive a Rent credit at Closing equal to the annual Rent increases beginning November 1, 2016 through the day preceding the Closing Date, which the parties shall Prorate for the month in which Closing occurs. Any Capital Expenditures Obligation (as defined in the Leases) date of Seller, as landlord, pursuant to the Leases with respect to an annual $350 per unit allowance toward payment or reimbursement of Capital Expenditures (as defined in the Leases) made by Tenant shall be paid by Seller through December 31, 2016, with any unused portion on any Property for the year 2016 to be applied as a credit to the Consideration allocated for that Property at Closing. If this transaction Closes, percentage rent under the Leases for the year 2016 (if any) shall accrue through October 31, 2016 and shall be paid to Seller at Closing; provided that Buyer shall provide to Seller all information and documents necessary to calculate any such percentage rent no later than December 15, 2016, with such calculation to be an amount mutually agreed upon by Seller and Buyer prior to Closingsale or other disposition shall constitute the date of termination of this Agreement.

Appears in 2 contracts

Samples: www.e-storageonline.com, www.e-storageonline.com

Rent. The parties On the date that Tenant executes this Lease, Tenant shall Prorate all deliver to Landlord the original executed Lease, the Advance Rent actually received by Seller (which shall be applied against the Rent payable for the month in which Closing occurs. At Closingfirst month(s) Tenant is required to pay Rent), to the extent actually received by Seller prior to ClosingSecurity Deposit, Seller shall pay to Buyer any and all prepaid Rent relating or pertaining to insurance certificates evidencing the Property. If Seller receives payment for Rent after Closing, Seller shall immediately pay to Buyer the portion of such payment which relates to the period on and after the Closing Date, and any portion of such payment which relates to the period prior to Closing which was credited to Seller at Closing. Annual Rent increases pursuant to the Leases are insurance required to be paid through obtained by Tenant under Section 12 and Exhibit B of this Lease. Tenant agrees to pay Landlord the Base Rent, without prior notice or demand, abatement, offset, deduction or claim, in advance at Landlord's Address on the Commencement Date and thereafter on the first (1st) day preceding of each month throughout the Closing Date; balance of the Term of the Lease beginning the second (2nd) month of the Term of the Lease (provided, however, that if this transaction Closes, Buyer will receive a Landlord has actually received the Advance Rent credit at Closing equal as provided herein). In addition to the annual Base Rent, Tenant shall pay Landlord in advance on the Commencement Date and thereafter on the first (1st) day of each month throughout the balance of the Term of this Lease, as Additional Rent, Tenant's Share of Operating Expenses, Tax Expenses, Common Area Utility Costs, and Utility Expenses. The term "Rent" whenever used herein refers to the aggregate of all these amounts. If Landlord permits Tenant to occupy the Premises without requiring Tenant to pay rental payments for a period of time, the waiver of the requirement to pay rental payments shall only apply to the waiver of the Base Rent. The Rent increases beginning November 1, 2016 through for any fractional part of a calendar month at the commencement or expiration or termination of the Lease Term shall be a prorated amount of the Rent for a full calendar month based upon a thirty (30) day preceding month. To the Closing extent not already paid as part of the Advance Rent any prorated Rent shall be paid on the Commencement Date, which the parties shall Prorate and any prorated Rent for the final calendar month hereof shall be paid on the first day of the calendar month in which Closing the date of expiration or termination occurs. Any Capital Expenditures Obligation (as defined in the Leases) of Seller, as landlord, pursuant to the Leases with respect to an annual $350 per unit allowance toward payment or reimbursement of Capital Expenditures (as defined in the Leases) made by Tenant shall be paid by Seller through December 31, 2016, with any unused portion on any Property for the year 2016 to be applied as a credit to the Consideration allocated for that Property at Closing. If this transaction Closes, percentage rent under the Leases for the year 2016 (if any) shall accrue through October 31, 2016 and shall be paid to Seller at Closing; provided that Buyer shall provide to Seller all information and documents necessary to calculate any such percentage rent no later than December 15, 2016, with such calculation to be an amount mutually agreed upon by Seller and Buyer prior to Closing.

Appears in 2 contracts

Samples: Lease Agreement (Abaxis Inc), Lease Agreement (Abaxis Inc)

Rent. The parties In consideration of this lease, Tenant promises and agrees to pay Landlord the Basic Rental defined in the Basic Lease Information (subject to adjustment as hereinafter provided) without deduction or setoff, for each month of the entire lease term. One such monthly installment together with the security deposit shall Prorate all be payable by Tenant to Landlord contemporaneously with the execution of this lease, and a like monthly installment shall be due and payable without demand beginning on the first day of the calendar month following the expiration of the first full calendar month of the lease term and continuing thereafter on or before the first day of each succeeding calendar month during the term hereof. Rent actually for any fractional month at the beginning of the lease term shall be prorated based on one three hundred sixty-fifth (1/365) of the current annual Basic Rental for each day of the partial month this lease is in effect, and shall be due and payable on or before the date on which Tenant certifies that it has accepted the premises pursuant to Paragraph 2 hereof. In the event any installment of the Basic Rental, or any other sums which become owing by Tenant to Landlord under the provisions hereof is not received by Seller for within ten (10) days after the month due date thereof (without in which Closing occurs. At Closingany way implying Landlord’s consent to such late payment), Tenant, to the extent actually received permitted by Seller prior law, agrees to Closingpay, Seller in addition to said installment of the Basic Rental or such other sums owed, a late payment charge equal to ten percent (10%) of the installment of the Basic Rental or such other sums owed, it being understood that said late payment charge shall pay constitute liquidated damages and shall be for the purpose of reimbursing Landlord for the additional costs and expenses which Landlord presently expects to Buyer incur in connection with the handling and processing of late installment payments of the Basic Rental and such other sums which become owing by Tenant to Landlord hereunder. Landlord and Tenant expressly covenant and agree that in the event of any such late payment(s) by Tenant, the damages so resulting to Landlord will be difficult to ascertain precisely, and all prepaid Rent relating or pertaining to that the Property. If Seller receives payment for Rent after Closing, Seller shall immediately pay to Buyer foregoing charge constitutes a reasonable and good faith estimate by the portion parties of the extent of such payment damages. Notwithstanding the foregoing, the foregoing late charges shall not apply to any sums which relates may [illegible] been advanced by Landlord to the period on and after the Closing Date, and any portion or for [illegible] benefit of such payment which relates to the period prior to Closing which was credited to Seller at Closing. Annual Rent increases Tenant pursuant to the Leases are provisions of this lease, it being understood that such sums shall bear interest, which Tenant hereby agrees to pay to Landlord, at the maximum rate of interest permitted by law to be paid through the day preceding the Closing Date; provided, however, that if this transaction Closes, Buyer will receive a Rent credit at Closing equal to the annual Rent increases beginning November 1, 2016 through the day preceding the Closing Date, which the parties shall Prorate charged Tenant for the month in which Closing occursuse or forbearance of such money. Any Capital Expenditures Obligation The security deposit (as defined in the LeasesBasic Lease Information) shall be held by Landlord without liability for interest and as security for the performance by Tenant of SellerTenant’s covenants and obligations under this lease), as landlordit being expressly understood that such deposit shall not be considered an advance payment of rental or a measure of Landlord’s damages in case of default by Tenant. Upon the occurrence of any event of default by Tenant, pursuant Landlord may, from time to time, without prejudice to any other remedy, use such deposit to the Leases with respect extent necessary to an annual $350 per unit allowance toward payment make good any arrearages of rent and any other damage, injury, expense or reimbursement liability caused to Landlord by such event of Capital Expenditures (as defined default. Following any such application of the security deposit, Tenant shall pay to Landlord on demand the amount so applied in order to restore the security deposit to its original amount. If Tenant is not then in default hereunder, any remaining balance of such deposit shall be returned by Landlord to Tenant within a reasonable period of time after the termination of this lease. If Landlord transfers its interest in the Leases) made by Tenant premises during the lease term, Landlord may assign the security deposit to the the transferee and thereafter shall be paid by Seller through December 31, 2016, with any unused portion on any Property have no further liability for the year 2016 to be applied as a credit to the Consideration allocated for that Property at Closing. If this transaction Closes, percentage rent under the Leases for the year 2016 (if any) shall accrue through October 31, 2016 and shall be paid to Seller at Closing; provided that Buyer shall provide to Seller all information and documents necessary to calculate any return of such percentage rent no later than December 15, 2016, with such calculation to be an amount mutually agreed upon by Seller and Buyer prior to Closingsecurity deposit.

Appears in 2 contracts

Samples: Office Building Lease Agreement, Office Building Lease Agreement (Rackspace Inc)

Rent. The parties shall Prorate all Rent actually received by Seller for In consideration of this Lease, during the month in which Closing occurs. At ClosingTerm, to the extent actually received by Seller prior to Closing, Seller Lessee shall pay to Buyer any Lessor the amounts set forth in Exhibit C as annual basic rent for the Premises (“Basic Rent”). Lessee shall pay Basic Rent and all prepaid Rent relating other sums payable to Lessor hereunder to Lessor (or, upon Lessor’s request, to any mortgagee(s) or pertaining beneficiary(ies) identified by Lessor (whether one or more, the “Mortgagee”) under any mortgages, deeds of trust or similar security instruments creating a lien on the interest of Lessor in the Premises (whether one or more, the “Mortgage”)) by check or wire transfer, in immediately available funds, as directed from time to time by the PropertyLessor, or at such other address or to such other person as Lessor from time to time may designate. If Seller receives payment for Rent after Closing, Seller Lessor shall immediately pay give Lessee not less than fifteen (15) days prior written notice of any change in the address to Buyer the portion of which such payment which relates to the period on and after the Closing Date, and any portion of such payment which relates to the period prior to Closing which was credited to Seller at Closing. Annual Rent increases pursuant to the Leases payments are to be paid through made. If the day party entitled to receive Basic Rent or such party’s address shall change, Lessee may, until receipt of notice of such change from the party entitled to receive Basic Rent or other sums payable hereunder immediately preceding the Closing Date; providedsuch change, however, that if this transaction Closes, Buyer will receive a continue to pay Basic Rent credit at Closing equal and other sums payable hereunder to the annual party to which, and in the manner in which, the preceding installment of Basic Rent increases beginning November 1or other sums payable hereunder, 2016 through as the case may be, was paid. Such Basic Rent shall be paid in equal monthly installments in advance on the first day preceding the Closing Dateof each month, which the parties shall Prorate except for any Basic Rent due for the month rental of the Premises during the Interim Term which shall be payable in which Closing occursadvance on or before the date hereof. Any Capital Expenditures Obligation (as defined rental payment made in respect of a period which is less than one month shall be prorated by multiplying the Leases) then applicable monthly Basic Rent by a fraction the numerator of Seller, as landlord, pursuant to which is the Leases number of days in such month with respect to an annual $350 per unit allowance toward payment or reimbursement which rent is being paid and the denominator of Capital Expenditures (as defined which is the total number of days in the Leases) made by Tenant such month. Lessee shall be paid by Seller through December 31perform all its obligations under this Lease at its sole cost and expense, 2016, with any unused portion on any Property for the year 2016 to be applied as a credit to the Consideration allocated for that Property at Closing. If this transaction Closes, percentage rent under the Leases for the year 2016 (if any) shall accrue through October 31, 2016 and shall be paid to Seller at Closing; provided that Buyer shall provide to Seller pay all information Basic Rent, and documents necessary to calculate any such percentage rent no later than December 15other sums payable hereunder when due and payable, 2016, with such calculation to be an amount mutually agreed upon by Seller and Buyer prior to Closingwithout notice or demand.

Appears in 2 contracts

Samples: Lease Agreement (M/a-Com Technology Solutions Holdings, Inc.), Lease Agreement (M/a-Com Technology Solutions Holdings, Inc.)

Rent. The parties On the date that Tenant executes this Lease, Tenant shall Prorate all deliver to Landlord the original executed Lease, the Base Rent actually received by Seller (which shall be applied against the Rent payable for the first month Tenant is required to pay Base Rent), and all insurance certificates or, alternatively, the letter required pursuant to Section 12.5 hereof, evidencing the insurance required to be obtained by Tenant under Section 12 of this Lease and under the provisions of Exhibit B hereto. Tenant agrees to pay Landlord, without prior notice or demand, or abatement (except as otherwise set forth in Sections 27 and 41 hereof), offset, deduction or claim, the Base Rent described on Page 1, payable in advance at Landlord's address shown on Page 1 on the Commencement Date and thereafter on the first (1st) day of each month throughout the Term of the Lease. In addition to the Base Rent set forth on Page 1, Tenant shall pay Landlord in advance, on the Commencement Date and thereafter on the first (1st) day of each month throughout the Term of this Lease, as Additional Rent, Tenant's Share of Operating Expenses, Tax Expenses, Common Area Utility Costs, and Utility Expenses. The term "Rent" whenever used herein refers to the aggregate of all these amounts. If Landlord permits Tenant to occupy the Premises to conduct business operations therein without requiring Tenant to pay rental payments for a period of time, the waiver of the requirement to pay rental payments shall only apply to waiver of the Base Rent and Tenant shall otherwise perform all other obligations of Tenant required hereunder. The Rent for any fractional part of a calendar month at the commencement or termination of the Lease term shall be a prorated amount of the Rent for a full calendar month based upon a thirty (30) day month. The prorated Rent shall be paid on the Commencement Date and the first day of the calendar month in which Closing the date of termination occurs. At Closing, to the extent actually received by Seller prior to Closing, Seller shall pay to Buyer any and all prepaid Rent relating or pertaining to the Property. If Seller receives payment for Rent after Closing, Seller shall immediately pay to Buyer the portion of such payment which relates to the period on and after the Closing Date, and any portion of such payment which relates to the period prior to Closing which was credited to Seller at Closing. Annual Rent increases pursuant to the Leases are to be paid through the day preceding the Closing Date; provided, however, that if this transaction Closes, Buyer will receive a Rent credit at Closing equal to the annual Rent increases beginning November 1, 2016 through the day preceding the Closing Date, which the parties shall Prorate for the month in which Closing occurs. Any Capital Expenditures Obligation (as defined in the Leases) of Seller, as landlord, pursuant to the Leases with respect to an annual $350 per unit allowance toward payment or reimbursement of Capital Expenditures (as defined in the Leases) made by Tenant shall be paid by Seller through December 31, 2016, with any unused portion on any Property for the year 2016 to be applied as a credit to the Consideration allocated for that Property at Closing. If this transaction Closes, percentage rent under the Leases for the year 2016 (if any) shall accrue through October 31, 2016 and shall be paid to Seller at Closing; provided that Buyer shall provide to Seller all information and documents necessary to calculate any such percentage rent no later than December 15, 2016, with such calculation to be an amount mutually agreed upon by Seller and Buyer prior to Closingcase may be.

Appears in 2 contracts

Samples: Lease Agreement (Cisco Systems Inc), Lease Agreement (Cisco Systems Inc)

Rent. The parties shall Prorate all Rent actually received by Seller for Commencing on July 1st, 2007, through the month in which Closing occurs. At Closinglast day of the lease term, to the extent actually received by Seller prior to Closing, Seller Tenant shall pay to Buyer any and all prepaid Rent relating or pertaining Landlord, as rental for the Premises, the sum of Seven Hundred Dollars & No Cents ($700.00) per month. If the commencement date is not the first day of a calendar month, the prorated rental from commencement date to the Propertyfirst day of next month is $23.33 per day payable on or before the commencement date. In addition, Tenant will have the right to extend this Lease on a month-to- month basis after the term of this lease during which any annual increase in the rental rate will not exceed One Hundred Dollars ($100.00) per month. All rent payments are due in advance and without demand before the first day of each calendar month without a grace period. If Seller receives payment all rent is not paid on or before the 5th day of the month, Tenant agrees to pay a late charge of $50.00 plus a further late charge of $10.00 per day until all due rent is paid. Tenant further agrees to pay a $50.00 charge for Rent after Closing, Seller shall immediately pay to Buyer the portion of such payment which relates to the period on and after the Closing Dateeach rent check returned unpaid, and delinquent charges shall accrue as if check had not been given until such check is made good. Notwithstanding any portion of such payment which relates to the period prior to Closing which was credited to Seller at Closing. Annual Rent increases pursuant to the Leases are to be paid through the day preceding the Closing Date; provided, however, that if this transaction Closes, Buyer will receive notations on a Rent credit at Closing equal to the annual Rent increases beginning November 1, 2016 through the day preceding the Closing Date, which the parties shall Prorate for the month in which Closing occurs. Any Capital Expenditures Obligation (as defined in the Leases) of Seller, as landlord, pursuant to the Leases with respect to an annual $350 per unit allowance toward payment or reimbursement of Capital Expenditures (as defined in the Leases) made check all payments by Tenant shall be paid by Seller through December 31applied first to non-rent items due, 2016if any, with any unused portion on any Property for the year 2016 and then to be applied as a credit to the Consideration allocated for that Property at Closingrent. If this transaction Closesany rent check is returned unpaid, percentage rent under for any reason, the Leases for the year 2016 (if any) shall accrue through October 31, 2016 and shall Landlord may require that all subsequent payments due hereunder be paid to Seller at Closing; provided in cash, money order, or cashier's check. Tenant and Landlord agree that Buyer all rights of Tenant and all duties and obligations of Landlord in this Lease are conditioned on rent being paid on time. Tenant's right of possession and all of Landlord's obligations are expressly conditioned on prompt payment of rent, and use of the premises by Tenant is conditioned on prompt payment of rent. After the term of this lease, Landlord shall provide to Seller all information and documents necessary to calculate any such percentage rent no later than December 15, 2016, with such calculation to be an amount mutually agreed upon by Seller and Buyer tenant at least thirty (30) days written notice prior to Closingany rent increase.

Appears in 2 contracts

Samples: Lease Agreement (Signal Advance Inc), Lease Agreement (Signal Advance Inc)

Rent. Tenant shall pay Landlord the full monthly Rent set forth above during each month of the Lease Term as rental for the Residence and Landlord and Tenant hereby agree that Rent for each month, including any partial month during the first or final month of the Lease Term, shall be payable in full and without proration with respect to the number of days Tenant is in possession during such month, except as otherwise expressly set forth herein with regard to Landlord's delay in delivery of the Residence. Tenant acknowledges that the full amount of Rent stated is due even though the Lease Term does not encompass a full 365 days. Rent is payable in advance without demand, abatement or set-­‐off, at the office of Landlord or at such other place(s) as Landlord may designate, on or before the Commencement Date and the first day of each calendar month thereafter during the Lease Term. IF MAILED, THE RENT AND ALL OTHER SUMS DUE UNDER THIS LEASE SHALL BE MAILED IN SUFFICIENT TIME AND WITH ADEQUATE POSTAGE THEREON TO BE ACTUALLY RECEIVED BY LANDLORD NO LATER THAN THE FIRST DAY OF THE MONTH. ANY RENT NOT ACTUALLY RECEIVED BY LANDLORD ON OR BEFORE THE FIRST DAY OF THE MONTH SHALL BE DELINQUENT AND IN DEFAULT. IF YOU DO NOT PAY RENT ON TIME This is your notice. If you do not pay your rent within five days of the due date, the Landlord can start to have you evicted. You will get no other notice as long as you live in this rental unit. The parties hereby agree if Rent is not paid in full within five days from the date due, Tenant shall, in addition to any other remedies of Landlord, pay a late charge of $50.00 on the 5th day after the due date and an additional $10.00 per day (late fee) thereafter. Personal checks will not be accepted after the tenth (10th) day of each month, as Rental payments must be in the form of a cashier’s check or money order if tendered after the tenth (10th) day of the month. Tenant shall Prorate pay a handling charge in the amount of $30 or 5% (whichever is greater) for each dishonored check, and, in addition, if applicable, the late charges set forth above. Returned checks must be redeemed by cashier’s check, certified check or money order. All monies received by Landlord shall be applied first to non-­‐rent items (outstanding charges such as, but not limited to, late charges, cleaning service fees, returned check charges, damages incurred by or on behalf of Tenant), and then to Rent. At Landlord’s option, Landlord may require all Rent actually received by Seller for the month in which Closing occurs. At Closing, to the extent actually received by Seller prior to Closing, Seller shall pay to Buyer any and all prepaid Rent relating or pertaining to the Property. If Seller receives payment for Rent after Closing, Seller shall immediately pay to Buyer the portion of such payment which relates to the period on and after the Closing Date, and any portion of such payment which relates to the period prior to Closing which was credited to Seller at Closing. Annual Rent increases pursuant to the Leases are other sums to be paid through in check, certified check, or money order, and by one monthly payment rather than multiple payments by each Cotenant. Landlord shall at all times have the day preceding right to refuse payment in the Closing Date; form of “cash” for monies due hereunder for security purposes. The liability for Rent, in addition to all other obligations hereunder, shall be joint and several among each and all of the individuals comprising Tenant. By providing a check for payment, Tenant is hereby given notice that Tenant’s signed and completed check may be converted to an electronic fund withdrawal upon receipt by Landlord via U.S. Mail or in designated drop box locations. Landlord’s receipt of Tenant’s check shall constitute Tenant’s authorization of such electronic fund withdrawal. Landlord has the right to not accept payment of less than the full amount of Rent, provided, however, the acceptance by Landlord of a check for a lesser amount with an endorsement or statement thereon, or upon any letter accompanying such check that if this transaction Closessuch lesser amount shall constitute payment in full, Buyer will receive a Rent credit at Closing equal shall be given no effect and Landlord may accept such payment without prejudice to the annual Rent increases beginning November 1, 2016 through the day preceding the Closing Date, any other rights or remedies which the parties shall Prorate for the month in which Closing occursLandlord may have against Tenant. Any Capital Expenditures Obligation payment, however designated, may be accepted by Landlord and applied against any part of Tenant’s then existing and then due Rent or Landlord may apply such payment against any sum then due or may retain such payment (as defined in the Leaseswithout interest) of Seller, as landlord, pursuant to the Leases with respect to an annual $350 per unit allowance toward payment or reimbursement of Capital Expenditures (as defined in the Leases) made by Tenant shall be paid by Seller through December 31, 2016, with any unused portion on any Property for the year 2016 to be applied as a credit to the Consideration allocated for that Property at Closing. If this transaction Closes, percentage rent under the Leases for the year 2016 (if any) shall accrue through October 31, 2016 and shall be paid to Seller at Closing; provided that Buyer shall provide to Seller all information and documents necessary to calculate any such percentage rent no later than December 15, 2016, with such calculation to be an amount mutually agreed upon by Seller and Buyer prior to Closingagainst Tenant’s accruing future obligations.

Appears in 2 contracts

Samples: Rental Agreement and Lease, Rental Agreement and Lease

Rent. The parties Tenant shall Prorate pay all Base Rent actually received by Seller and Additional Rent (defined below) (collectively, “Rent”) to Landlord or Landlord’s agent, without prior notice or demand or any setoff or deduction (except as otherwise provided herein), at the place Landlord may designate from time to time, in money of the United States of America that, at the time of payment, is legal tender for the month payment of all obligations. As used herein, “Additional Rent” means all amounts, other than Base Rent, that Tenant is required to pay Landlord hereunder. Monthly payments of Base Rent and monthly payments of Additional Rent for Expenses (defined in which Closing occurs. At ClosingSection 4.2.2), to the extent actually received by Seller prior to ClosingTaxes (defined in Section 4.2.3) and parking (collectively, Seller “Monthly Rent”) shall pay to Buyer any and all prepaid Rent relating or pertaining to the Property. If Seller receives payment for Rent after Closing, Seller shall immediately pay to Buyer the portion of such payment which relates to the period on and after the Closing Date, and any portion of such payment which relates to the period prior to Closing which was credited to Seller at Closing. Annual Rent increases pursuant to the Leases are to be paid through in advance on or before the first day preceding of each calendar month during the Closing DateTerm; provided, however, that if this transaction Closes, Buyer will receive a the installment of Base Rent credit at Closing equal to the annual Rent increases beginning November 1, 2016 through the day preceding the Closing Date, which the parties shall Prorate for the first full calendar month in for which Closing occurs. Any Capital Expenditures Obligation (as defined in the Leases) of Seller, as landlord, pursuant to the Leases with respect to an annual $350 per unit allowance toward payment or reimbursement of Capital Expenditures (as defined in the Leases) made by Tenant Base Rent is payable hereunder shall be paid by Seller through December 31upon Tenant’s execution and delivery hereof. Except as otherwise provided herein, 2016, with any unused portion on any Property for the year 2016 to be applied as a credit to the Consideration allocated for that Property at Closing. If this transaction Closes, percentage rent under the Leases for the year 2016 (if any) shall accrue through October 31, 2016 and all other items of Additional Rent shall be paid within 30 days after Landlord’s request for payment. Rent for any partial calendar month shall be prorated based on the actual number of days in such month. Without limiting Landlord’s other rights or remedies, (a) if any installment of Rent is not received by Landlord or its designee within five (5) business days after its due date, Tenant shall pay Landlord a late charge equal to Seller at Closing; provided 5% of the overdue amount (provided, however, that Buyer such late charge shall provide not apply to Seller all information and documents necessary to calculate any such percentage rent no later than December 15delinquency unless either (i) such delinquency is not cured within five (5) business days after notice from Landlord, 2016or (ii) Tenant previously received notice from Landlord of a delinquency that occurred earlier in the same calendar year); and (b) any Rent that is not paid within 10 days after its due date shall bear interest, with such calculation from its due date until paid, at the lesser of 18% per annum or the highest rate permitted by Law (defined in Section 5). Tenant’s covenant to be an amount mutually agreed upon by Seller and Buyer prior to Closingpay Rent is independent of every other covenant herein.

Appears in 2 contracts

Samples: Office Lease (Apigee Corp), Office Lease (Apigee Corp)

Rent. The parties shall Prorate all Rent actually received by Seller for During the month in which Closing occurs. At ClosingLease Term, to the extent actually received by Seller prior to ClosingTenants, Seller jointly and severally, shall pay a total rent to Buyer any and all prepaid Rent relating or pertaining to the Property. If Seller receives payment for Rent after Closing, Seller shall immediately pay to Buyer the portion of such payment which relates to the period on and after the Closing Date, and any portion of such payment which relates to the period prior to Closing which was credited to Seller at Closing. Annual Rent increases pursuant to the Leases are to be paid through the day preceding the Closing Date; provided, however, that if this transaction Closes, Buyer will receive a Rent credit at Closing equal to the annual Rent increases beginning November 1, 2016 through the day preceding the Closing Date, which the parties shall Prorate for the month in which Closing occurs. Any Capital Expenditures Obligation (as defined Landlord in the Leases) amount of Seller, as landlord, pursuant to the Leases with respect to an annual $350 per unit allowance toward payment or reimbursement of Capital Expenditures (as defined in the Leases) made by Tenant $ . Said total rent shall be paid by Seller through December 31Tenant to Landlord in equal monthly installments of $ (“Rent”) to Landlord, 2016at Landlord’s address set forth above, with any unused portion on any Property for the year 2016 to be applied as a credit to the Consideration allocated for that Property at Closing. If this transaction Closes, percentage rent under the Leases for the year 2016 (if any) shall accrue through October 31, 2016 in advance and shall be paid received in hand or postmarked on or before the first (1st) day of each calendar month during the Lease Term and without demand, delay or offset for any reason and without a grace period. If the Rent is not received in hand or postmarked on or before the 1st day of each month, the Tenant is in default of this said lease. Time is of the essence for each and every monthly Rent payment and for all other monies due and owing under this Lease, including security deposit, damages, invoices or other costs or expenses chargeable by law by Landlord to Seller Tenant. Tenants, shall jointly and severally, immediately pay to Landlord a late fee of Fifty Dollars ($50) for any monthly payment of Rent not received in hand by Landlord on or before the first (1st) day of each calendar month, and an ongoing $5 per day late fee after the 5th day that Rent has not been received in hand by Landlord. It is Tenant’s responsibility to ensure that Landlord receives said Rent. Tenants jointly and severally shall pay to Landlord a fee of Fifty Dollars ($50), or any amounts charged by Landlord’s bank if greater than $50, for each check of Tenants jointly or severally returned by a banking institution for insufficient funds or for any other reason. If Landlord receives a returned check issued jointly or severally by Tenants from a banking institution, Landlord may require that Tenants make all future payments to Landlord in the form of cash, money order, or cashiers check only. Base Rent and Pet Rent, if any, are collectively referred to herein as “Rent”. Landlord will first deduct all fees, damages, costs and charges, including late fees, NSF fees, and other damages and costs set forth herein, from all amounts received from Tenant on a monthly basis before applying said amounts to the Rent due. Tenant may elect to receive a discount of the last month’s Rent, at Closing; Tenant's option, as provided in this Section. Tenant will receive a discount on their last month’s rent in the amount of $50 provided that Buyer shall provide to Seller all information the discounted amount of their last month’s Rent is paid and documents necessary to calculate any such percentage rent no later than December 15, 2016, with such calculation to be an amount mutually agreed upon received by Seller and Buyer Landlord in full prior to Closingor on the date of move in.

Appears in 2 contracts

Samples: Lease Agreement, Lease Agreement

Rent. The parties shall Prorate all Rent actually received by Seller for the month in which Closing occurs. At Closing, to the extent actually received by Seller prior to Closing, Seller Tenant shall pay to Buyer Landlord as the base rent for the Premises (the “Base Rent”) the amount set forth in Section 1, subject to adjustment as hereinafter provided. Nothing contained herein shall be construed at any time so as to reduce the Base Rent payable hereunder below the amount set forth above. Base Rent shall be adjusted in accordance with the following provisions (any such adjustment is “Additional Rent”). Prior to January 1 of each year in the Term or as soon thereafter as reasonably possible, Landlord shall provide Tenant with Landlord’s good faith estimate (which Landlord may re-estimate at any time) of Operating Expenses and all prepaid Taxes for the next calendar year in the Term (each, an “Operating Period”), and commencing on January 1 of each Operating Period, one-twelfth (1/12) of Tenant’s Pro-rata Share of the estimated Operating Expenses and Taxes will be due each month from Tenant as Tenant’s Additional Rent relating or pertaining during such Operating Period. If Landlord’s statement is furnished after the start of an Operating Period, then Tenant shall continue to pay the monthly amount of its Additional Rent due for the prior Operating Period and on the next monthly Additional Rent payment date after Tenant receives Landlord’s statement, Tenant shall also pay any excess amounts allocable to the Propertyprior months in that Operating Period. If Seller receives payment As of the Effective Date of this Lease, Landlord’s estimate is that the amount that will be due as Additional Rent hereunder for Rent after Closingthe year in which the Commencement Date occurs will be $18.80 per RSF of the Rentable Area of Premises per year. Until further written notice is forwarded from Landlord to Tenant in accordance with the provisions of this Lease, Seller Tenant shall immediately pay remit 1/12th of this amount to Buyer the portion of such payment which relates to the period on and after the Closing DateLandlord monthly as Additional Rent, and any portion of such payment which relates to the period prior to Closing which was credited to Seller at Closing. Annual Rent increases pursuant to the Leases are to be paid through at the day preceding the Closing Date; provided, however, that if this transaction Closes, Buyer will receive a Rent credit at Closing equal to the annual Rent increases beginning November 1, 2016 through the day preceding the Closing Date, which the parties shall Prorate for the month in which Closing occurs. Any Capital Expenditures Obligation (as defined same time and in the Leases) same manner as Tenant’s monthly payments of Seller, as landlord, pursuant to the Leases with respect to an annual $350 per unit allowance toward payment or reimbursement of Capital Expenditures (as defined in the Leases) made by Tenant shall be paid by Seller through December 31, 2016, with any unused portion on any Property for the year 2016 to be applied as a credit to the Consideration allocated for that Property at Closing. If this transaction Closes, percentage rent under the Leases for the year 2016 (if any) shall accrue through October 31, 2016 and shall be paid to Seller at Closing; provided that Buyer shall provide to Seller all information and documents necessary to calculate any such percentage rent no later than December 15, 2016, with such calculation to be an amount mutually agreed upon by Seller and Buyer prior to ClosingBase Rent.

Appears in 2 contracts

Samples: Lease Agreement (Upland Software, Inc.), Lease Agreement (Upland Software, Inc.)

Rent. The parties shall Prorate all Rent actually received by Seller for the month in which Closing occurs. At Closing, to the extent actually received by Seller prior to Closing, Seller Tenant shall pay to Buyer Landlord as minimum monthly rent, without ---- deduction, setoff, prior notice, or demand, the Basic Monthly Rent described in Paragraph 2.6, above (subject to adjustment as provided in the attached Addendum), in advance, on or before the first day of each calendar month, beginning on the Rent Commencement Date and thereafter throughout the Term. If the Rent Commencement Date is other than the first day of a calendar month, then the Basic Monthly Rent payable by Tenant for the first month of the Term following the Rent Commencement Date (which first month shall be payable upon execution of this Lease) shall be prorated on the basis of the actual number of days during the Term occurring during the relevant month. Notwithstanding the foregoing, if Landlord is delayed in completion of Landlord's Work due to any and all prepaid Rent relating act or pertaining omission by Tenant or its agents, employees, contractors, or representatives, then in addition to the Property. If Seller receives payment Basic Monthly Rent payable for the first month of the Term following the Rent after ClosingCommencement Date, Seller Tenant shall immediately additionally pay to Buyer Landlord, upon the portion Rent Commencement Date, additional rent (at the rate of one-thirtieth of the Basic Monthly Rent per day) for the number of days of such payment delay. All "Rent" (which relates to the period on and after the Closing Dateincludes Basic Monthly Rent, and any portion of such payment which relates to the period prior to Closing which was credited to Seller at Closing. Annual Rent increases pursuant to the Leases are to be paid through the day preceding the Closing Date; provided, however, that if this transaction Closes, Buyer will receive a Rent credit at Closing equal to the annual Rent increases beginning November 1, 2016 through the day preceding the Closing Date, which the parties shall Prorate for the month in which Closing occurs. Any Capital Expenditures Obligation (items designated as defined in the Leases"Additional Rent" hereunder) of Seller, as landlord, pursuant to the Leases with respect to an annual $350 per unit allowance toward payment or reimbursement of Capital Expenditures (as defined in the Leases) made by Tenant shall be paid by Seller through December 31, 2016, with any unused portion on any Property for the year 2016 to be applied as a credit to the Consideration allocated for that Property at Closing. If this transaction Closes, percentage rent under the Leases for the year 2016 (if any) shall accrue through October 31, 2016 and shall be paid to Seller Landlord at Closing; provided that Buyer shall provide to Seller all information and documents necessary to calculate any such percentage rent no later than December 15, 2016, with such calculation the same address as notices are to be an delivered to Landlord pursuant to Paragraph 2.10, above. The Rentable Area of the Premises and the Building is, at Landlord's election, subject to verification by Landlord's space planner or architect. That verification shall be made in accordance with this Paragraph. Tenant's space planner or architect may consult with Landlord's space planner or architect regarding that verification. Verification of the Rentable Area of the Premises shall be done, if at all, within 90 days of the Lease Commencement Date. Verification of the Rentable Area of the Building may be accomplished within such 90-day period or at any time thereafter that there is a change to the Building necessitating such verification. If Landlord's space planner or architect determines that the Rentable Area of the Premises or the Building is different from that stated in this Lease, all Rent that is based on that incorrect amount mutually agreed upon shall be modified in accordance with that determination. If that determination is made, it shall be confirmed in writing by Seller and Buyer prior Landlord to ClosingTenant.

Appears in 2 contracts

Samples: Copper Mountain Networks Inc, Copper Mountain Networks Inc

Rent. The parties Daily Rent shall Prorate be due on all Rent actually received Advances made by Seller for the month in which Closing occurs. At Closing, to the extent actually received by Seller prior to Closing, Seller shall pay to Buyer any and all prepaid Rent relating or pertaining to the Property. If Seller receives payment for Rent after Closing, Seller shall immediately pay to Buyer the portion of such payment which relates to the period on and after the Closing Date, and any portion of such payment which relates to the period prior to Closing which was credited to Seller at Closing. Annual Rent increases Lessor pursuant to any Acceptance Certificate and shall accrue from the Leases are to be paid through earlier of the day preceding Advance Date or the Closing Date; provided, however, that if this transaction Closes, Buyer will receive a Acceptance Date of any item of Equipment at the Daily Rent credit at Closing equal to the annual Rent increases beginning November 1, 2016 through the day preceding the Closing Date, which the parties shall Prorate for the month in which Closing occurs. Any Capital Expenditures Obligation (as defined set forth in the Leasesapplicable Acceptance Certificate multiplied by the number of days from (and including) the earlier of Seller, as landlord, pursuant the Advance Date or the Acceptance Date to (but not including) the Leases with respect to an annual $350 per unit allowance toward payment or reimbursement of Capital Expenditures (as defined in the Leases) made by Tenant shall be paid by Seller through December 31, 2016, with any unused portion on any Property for the year 2016 to be applied as a credit to the Consideration allocated for that Property at Closing. If this transaction Closes, percentage rent under the Leases for the year 2016 (if any) shall accrue through October 31, 2016 Commencement Date and shall be paid due and payable on the first day of each month until the Commencement Date. The Basic Rent payable hereunder during the Basic Term is as set forth in the Equipment Schedule. Lessor and Lessee agree that the Basic Rent described in the Equipment Schedule has a corresponding yield relationship to Seller at Closing; provided that Buyer shall provide the U.S. Treasury obligation and with the closest equivalent maturity as the applicable Lease Basic Term as reported in The Wall Street Journal on the date of, and quoted in, Lessor's Proposal Letter, and consequently, the Basic Rent, Lease Rate Factor, and Stipulated Loss Values (and Renewal Rent, if applicable) may be adjusted upward by the Lessor on the date of preparation of the Equipment Schedule, or alternatively, on the funding date by a Notification of Rent Adjustment amendment prepared thereafter, to Seller all information and documents necessary to calculate any reflect a change on such percentage rent no later than December 15, 2016date in the reported yield of the U.S. Treasury obligation, with the equivalent term of the U.S. Treasury obligation quoted in the Proposal Letter (or the closest term to such calculation original U.S. Treasury obligation in the event an identical term issue is not reported, and in the event that two or more comparison Treasury obligations are quoted with identical maturities, then with the "Asked" price which is closest to par) in order to preserve Lessor's anticipated corresponding yield relationship. Except as may otherwise be provided in any Equipment Schedule, Basic Rent shall begin to accrue on the Commencement Date and shall be due and payable by Lessee on the first day of each period (advance) or the last day (arrears) of each period, as set forth in the applicable Equipment Schedule. In addition to the Basic Rent and Daily Rent, Lessee shall pay Renewal Rent, if any, due as indicated in this Lease Agreement, or on any Equipment Schedule, or any Rider hereto or thereto. All Rent due by Lessee hereunder is an amount mutually agreed upon by Seller absolute and Buyer prior to Closingunconditional obligation of Lessee which may not be abated or offset for any reason whatsoever as provided in Section 10 hereof.

Appears in 2 contracts

Samples: Master Lease Agreement (Convio, Inc.), Convio, Inc.

Rent. The parties rent shall Prorate all be MonthlyRent per month. Rent actually received shall be payable as follows: Rent is due and payable on the 1st of the month, in advance and without demand. If rental is not paid by Seller the tenth (10th) day after the 1st of the month, Tenant agrees to pay a LATE CHARGE of LateFee1. Any account fifteen (15 days) or more days delinquent will be assessed an additional $25.00 Pre-Lien Fee. A $25.00 Lien Fee will be assessed at 30 days past due. If Lessor is caused to advertise Tenant's property for lien sale, Tenant will be assessed an advertising charge of $100.00 per advertisement. Tenant agrees to pay a CheckFee charge for each RETURNED CHECK. The late charges and returned check charges shall be deemed as and for rent. A tenant will be charged a fee of $25 to cut their lock, if necessary. Partial payment of rent does not waive or void the legal effect of prior notices given to Tenant unless expressly agreed to in writing by Lessor. Lessor reserves the right to refuse payment by cheek. All rental payments shall be made to the Lessor at the above stated address or at such other place as shall be designated in writing from time to time by Lessor. Any additional charges shall be payable concurrently with the rent payment or at the time the additional charge is levied. In the event of a seizure under Paragraph 12 hereof, it is understood and agreed that the liability of Tenant for the month rents, charges, costs, and expenses provided for in which Closing occursthis Rental Agreement shall not be relinquished, diminished or extinguished prior to payment in full or termination of this Agreement, whichever occurs first in time. At ClosingIt is further agreed that Tenant shall be personally liable for all rents, charges, costs, expenses to the extent actually received by Seller prior to Closingdate of termination of this Agreement, Seller shall pay to Buyer any and all prepaid Rent relating or pertaining to expenses incurred for the Property. If Seller receives payment for Rent after Closingsale and/or disposition of the property, Seller shall immediately pay to Buyer the portion of such payment which relates to the period on and after the Closing Dateadvertising costs, attorneys' fees, court costs, and any portion costs of such payment which relates repair and damages to the period prior to Closing which was credited to Seller at ClosingSpace or Facility as provided for below. Annual Rent increases pursuant to In the Leases are to be paid through event of a sale or other disposition, it is agreed that the day preceding the Closing Date; provided, however, that if this transaction Closes, Buyer will receive a Rent credit at Closing equal to the annual Rent increases beginning November 1, 2016 through the day preceding the Closing Date, which the parties shall Prorate for the month in which Closing occurs. Any Capital Expenditures Obligation (as defined in the Leases) date of Seller, as landlord, pursuant to the Leases with respect to an annual $350 per unit allowance toward payment or reimbursement of Capital Expenditures (as defined in the Leases) made by Tenant shall be paid by Seller through December 31, 2016, with any unused portion on any Property for the year 2016 to be applied as a credit to the Consideration allocated for that Property at Closing. If this transaction Closes, percentage rent under the Leases for the year 2016 (if any) shall accrue through October 31, 2016 and shall be paid to Seller at Closing; provided that Buyer shall provide to Seller all information and documents necessary to calculate any such percentage rent no later than December 15, 2016, with such calculation to be an amount mutually agreed upon by Seller and Buyer prior to Closingsale or other disposition shall constitute the date of termination of this Agreement.

Appears in 2 contracts

Samples: www.e-storageonline.com, www.e-storageonline.com

Rent. The parties shall Prorate all Rent actually received by Seller As consideration for the month in which Closing occurs. At Closingthis Sublease, to the extent actually received by Seller prior to Closing, Seller Subtenant shall pay to Buyer Sublandlord commencing November 1, 2005 (the “Rent Commencement Date”) and continuing for the Term hereof, without any and all prepaid Rent relating offset or pertaining deduction, annual rent (“Rent”), in an amount equal to: (a) with respect to the Property. If Seller receives payment first Rental Year (as defined below), [*]; (b) with respect to each Rental Year thereafter, the sum of (i) the annual Rent rate for Rent after Closing, Seller shall immediately pay to Buyer the portion of such payment which relates to first Rental Year and (ii) the period on and after the Closing Date, and any portion of such payment which relates to the period prior to Closing which was credited to Seller at Closing. applicable Annual Rent increases pursuant to Escalator. The “Annual Rent Escalator” for any given Rental Year is the Leases are to product of (x) [*] multiplied by the number of Rental Years preceding such Rental Year. By way of example: in Rental Year 2 the Annual Rent shall be paid through the day preceding annual Rent rate for Rental Year 1 (i.e., [*]) plus [*]; in Rental Year 3 the Closing DateAnnual Rent shall be the annual Rent rate for Rental Year 1 (i.e., [*]) plus [*]. The term “Rental Year” shall mean a period of twelve (12) consecutive full calendar months during the Term commencing on the Rent Commencement Date or any anniversary thereof; provided, however, that if this transaction Closesthe Rent Commencement Date is a day other than the first day of a calendar month, Buyer will receive a Rent credit at Closing equal to the annual Rent increases beginning November 1, 2016 first Rental Year shall include the resulting fractional month and shall extend through the day preceding end of the Closing twelfth (12th) full calendar month following the Rent Commencement Date, which the parties shall Prorate for the month in which Closing occurs. Any Capital Expenditures Obligation (as defined in the Leases) of Seller, as landlord, pursuant to the Leases with respect to an annual $350 per unit allowance toward payment or reimbursement of Capital Expenditures (as defined in the Leases) made by Tenant * CONFIDENTIAL TREATMENT REQUESTED. CONFIDENTIAL PORTION HAS BEEN FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION. Rent shall be paid by Seller through December 31payable in equal monthly installments in advance on the first day of each and every calendar month during the Term, 2016without setoff, with any unused portion on any Property for deduction, notice or demand; provided, however, that the year 2016 to be applied as a credit to the Consideration allocated for that Property at Closing. If this transaction Closes, percentage rent under the Leases for the year 2016 (if any) shall accrue through October 31, 2016 and first Rent payment shall be paid to Seller at Closing; provided that Buyer shall provide to Seller all information and documents necessary to calculate any such percentage rent due no later than December 15, 2016, with such calculation to be an amount mutually agreed upon by Seller and Buyer five business days prior to Closingthe Rent Commencement Date.

Appears in 2 contracts

Samples: Agreement of Sublease, Agreement of Sublease (Equinix Inc)

Rent. The parties Concessionaire shall Prorate pay, without offset, deduction, prior notice, or demand, as "Minimum Annual Rent” the sum of $$ (annual rent guarantee as bid) or (percentage as bid)% of gross annual receipts, whichever sum is greater. Beginning with Contract Year Six (6) and on the first day of each fifth Contract Year thereafter, the Minimum Annual Rent shall be adjusted to reflect changes in the Consumer Price Index (CPI). Such CPI adjustments shall be made in accordance with the procedure set forth in Exhibit G, attached to and made a part of this Contract. Concessionaire shall make payment of Minimum Annual Rent and other payments to State in lawful money of the United States. However, if any payment made by a check, draft, or money order is returned to State due to insufficient funds or otherwise, State shall have the right, at any time after the return, upon written notice to Concessionaire, to require Concessionaire to make all Rent actually received subsequent payments in cash or by Seller cashier's or certified check. Beginning with the fifteenth (15th) day of the month following the execution of the Contract and on or before the fifteenth (15th) day of each month thereafter, Concessionaire shall furnish to State a verified statement of the concession’s gross receipts for the preceding month. Such statement shall be submitted on Form DPR 54, Concessionaire's Monthly Report of Operation, attached hereto as Exhibit B, or in a format previously approved by the State, and shall specify the current period and cumulative total of gross receipts for the concession through the end of the preceding month in which Closing occursfor the then current Contract Year. At ClosingConcessionaire shall also provide such statement for periods of non-operation. Concurrent with such monthly statement, to the extent actually received by Seller prior to Closing, Seller Concessionaire shall pay to Buyer any and all prepaid Rent relating or pertaining State the appropriate rental fee based on the gross receipts for the preceding calendar month as prescribed above. Payments to State shall be made to the Propertyorder of the Department of Parks and Recreation and delivered to the District Office identified herein below or at such other location as may from time to time be designated by State. If, at the end of the Contract Year, the total of monthly percentage rental payments made (or due) during that Contract Year is less than the Minimum Annual Rent required for that Contract Year, the difference shall be remitted to State with the last monthly sales statement for the Contract Year. Payments must be received by State on or before the fifteenth (15th) day of the month as described above. Any late payment shall constitute a breach of contract, giving rise to State's remedies as set forth below. Further, any late payment will be subject to a late penalty consisting of an administrative charge on the late amount, calculated at the rate of five percent (5%) of the amount of the late payment or portion thereof. The parties agree that the late charge represents a fair and reasonable estimate of the costs State will incur because of late payment. Acceptance of the late charge by State shall not constitute a waiver of Concessionaire's default for the overdue amount, nor prevent State from exercising the other rights and remedies granted under this Contract. Concessionaire shall pay the late charge as additional rent with the next monthly rent payment. Any amount due to State, if not paid within five (5) days following the due date, will bear interest from the due date until paid at the rate of ten percent (10%) per year. However, interest shall not be payable on late charges incurred by Concessionaire. Payment of interest shall not excuse or cure any default by Concessionaire. Upon written request by the Concessionaire to State demonstrating unusual or extenuating circumstances causing the late payment, the State, in its sole discretion, may waive the late charge. Further, in the event Concessionaire is prevented from carrying on the operations contemplated herein by reason of an Act of Nature or other reasons beyond Concessionaire's control, and when requested in writing in advance by Concessionaire, Minimum Rent may be abated in proportion to the amount by which gross receipts are reduced by the occurrence for such period of reduced or non- operation, as determined in the sole discretion of State. If Seller receives payment this Contract is terminated by State because of Concessionaire's default, and if Concessionaire becomes liable for Rent after Closingany deficiency in rent and/or fees by way of damages or otherwise, Seller shall immediately pay or if at any time during the Contract term Concessionaire ceases to Buyer conduct in the portion of such payment which relates Premises the business referred to the period on herein below, then from and after the Closing Datetime of the breach causing this termination, or from and any portion after the time of such payment which relates the cessation of business, all unpaid rent and/or fees prior to the period prior to Closing which was credited to Seller at Closingbreach causing termination or cessation of business shall become due and payable. Annual Rent increases pursuant to the Leases are The amount due shall be deemed to be paid through the day greater of: (a) the Minimum Rent provided herein, or (b) an amount based upon the average of the payments that have accrued to State as percentage rent during the twenty-four (24) months preceding the Closing Date; providedtermination or cessation of business, howeverunless the termination or cessation occurs within three (3) years of the beginning of the Contract term, that if this transaction Closes, Buyer will receive a Rent credit at Closing equal to the annual Rent increases beginning November 1, 2016 through the day preceding the Closing Date, which the parties shall Prorate for the month in which Closing occurs. Any Capital Expenditures Obligation event the previous twelve (as defined in the Leases12) of Seller(or fewer, as landlord, pursuant to the Leases with respect to an annual $350 per unit allowance toward payment or reimbursement of Capital Expenditures (as defined in the Leasesif applicable) made by Tenant months shall be paid by Seller through December 31, 2016, with any unused portion on any Property for used as the year 2016 to be applied as a credit to the Consideration allocated for that Property at Closing. If basis of this transaction Closes, percentage rent under the Leases for the year 2016 (if any) shall accrue through October 31, 2016 and shall be paid to Seller at Closing; provided that Buyer shall provide to Seller all information and documents necessary to calculate any such percentage rent no later than December 15, 2016, with such calculation to be an amount mutually agreed upon by Seller and Buyer prior to Closingaverage.

Appears in 2 contracts

Samples: www.parks.ca.gov, www.bidnet.com

Rent. The parties shall Prorate all Rent actually received by Seller As rent for the month in which Closing occurs. At Closingthis Sublease, to the extent actually received by Seller prior to Closing, Seller Sublessee shall pay to Buyer Sublessor on the following schedule (“Rent”), together with its proportionate share of all other sums, including without limitation utility costs, insurance costs, operating costs, and taxes paid by Sublessor in its capacity as Tenant under the Base Lease (“Additional Rent”). Year 1: $13,000 NNN per month Year 2: $14,000 NNN per month Year 3: $15,500 NNN per month Year 4: $17,000 NNN per month Year 5: $18,000 NNN per month Such rent shall be payable on the first day of each month based upon a reasonable estimate provided to Sublessee by Sublessor of the other sums payable by Sublessor for that month under the Base Lease. Within 15 days after the actual amount of other sums due under the Base Lease is known by Sublessor, Sublessor shall notify Sublessee thereof and of Sublessee’s portion thereof. If Sublessee has overpaid rent for the period in question, such overpayment shall be credited against the next installments of rent due or returned by Sublessor to Sublessee, or if Sublessee has underpaid rent, then Sublessee shall pay the amount of such underpayment to Sublessor within twenty days after the receipt of such notice. Payment of Rent and Additional Rent shall be made to Sublessor at its address written below or at such other place Sublessor may designate in writing, without any and all prepaid Rent relating offset or pertaining deduction whatsoever. In addition if the Base Lease requires Tenant to make payments of real estate taxes and/or utilities which are applicable to the Property. If Seller receives payment for Rent after Closing, Seller shall immediately pay to Buyer the portion of such payment which relates Premises directly to the period on taxing authorities and/or utility companies, as the case may be, Sublessee shall make such payments in a timely manner and after the Closing Datepromptly supply Sublessor with evidence thereof, and any portion of such payment which relates to the period prior to Closing which was credited to Seller at Closing. Annual Rent increases pursuant to the Leases are shall be deemed to be paid through the day preceding the Closing Date; provided, however, that if this transaction Closes, Buyer will receive a Rent credit at Closing equal to the annual Rent increases beginning November 1, 2016 through the day preceding the Closing Date, which the parties shall Prorate for the month in which Closing occurs. Any Capital Expenditures Obligation (as defined in the Leases) of Seller, as landlord, pursuant to the Leases with respect to an annual $350 per unit allowance toward payment or reimbursement of Capital Expenditures (as defined in the Leases) made by Tenant shall be paid by Seller through December 31, 2016, with any unused portion on any Property for the year 2016 to be applied as a credit to the Consideration allocated for that Property at Closing. If this transaction Closes, percentage additional rent under the Leases for the year 2016 (if any) shall accrue through October 31, 2016 and shall be paid to Seller at Closing; provided that Buyer shall provide to Seller all information and documents necessary to calculate any such percentage rent no later than December 15, 2016, with such calculation to be an amount mutually agreed upon by Seller and Buyer prior to Closinghereunder.

Appears in 2 contracts

Samples: Sublease (FlexEnergy Green Solutions, Inc.), Sublease (FlexEnergy Green Solutions, Inc.)

Rent. The parties shall Prorate Except as otherwise expressly set forth in this Lease, Tenant agrees to pay to Landlord at the first office specified in Section 1.01 (2), or to such other persons, or at such other places, designated by Landlord, without any prior demand therefor in immediately available funds and without any deduction or offset whatsoever, except as otherwise set forth in this Lease, all Rent actually received by Seller during the Term as and when due pursuant to this Lease. Monthly Base Rent shall be paid monthly in advance on the first day of each month of the Term, except that the installment of Monthly Base Rent for any partial month at the beginning of the Term shall be paid prior to the Commencement Date and the installment of Monthly Base Rent due for the sixth (6th) month in which Closing occurs. At Closing, to of the extent actually received by Seller prior to Closing, Seller Term shall pay to Buyer any and all prepaid Rent relating or pertaining to the Property. If Seller receives payment for Rent after Closing, Seller shall immediately pay to Buyer the portion of such payment which relates to the period on and after the Closing Date, and any portion of such payment which relates to the period prior to Closing which was credited to Seller at Closing. Annual Rent increases pursuant to the Leases are to be paid through by Tenant to Landlord within thirty (30) days following the day preceding Date of this Lease. Monthly Base Rent shall be prorated for partial months within the Closing Date; Term. Unpaid Rent shall bear interest at the Default Rate from the date due until paid provided, however, that if this transaction Closes, Buyer will receive a Rent credit at Closing equal to the annual Rent increases beginning November 1, 2016 through the day preceding the Closing Date, which the parties shall Prorate for the month in which Closing occurs. Any Capital Expenditures Obligation (as defined in the Leases) of Seller, as landlord, pursuant to the Leases with respect to an annual $350 per unit allowance toward payment or reimbursement of Capital Expenditures (as defined in the Leases) made by Tenant shall be paid by Seller through December 31entitled to notice and an additional three (3) business day grace period before the imposition of Default Interest the first time in any calendar year that Tenant does not timely pay Rent hereunder. Tenant’s covenant to pay Rent shall be independent of every other covenant in this Lease. Notwithstanding the foregoing, 2016Tenant’s obligation to pay Rent shall be conditionally abated during the first five (5) full calendar months of the Term (the “Rent Abatement Period”) in an amount not to exceed $958,013.75. Such abatement shall apply to Rent only and shall not apply to any other sums payable under this Lease. The abatement of Rent described above is expressly conditioned on Tenant’s performance of its obligations under this Lease throughout the Term, with any unused portion and the amount of the abated Rent is based in part on any Property the amount of Rent due under this Lease for the year 2016 to be applied as a credit to the Consideration allocated for that Property at Closingfull Term. If Tenant Defaults under this transaction ClosesLease and such Default continues beyond the applicable notice and cure period, percentage rent under then Tenant shall immediately, on demand, pay to Landlord, in addition to all other amounts and damages to which Landlord is entitled, the Leases for unamortized amount of Rent which would otherwise have been due and payable during the year 2016 Rent Abatement Period (if any) shall accrue through October 31, 2016 and shall be paid to Seller based on the straight-line amortization of the abated Rent across the initial Term plus interest at Closing; provided that Buyer shall provide to Seller all information and documents necessary to calculate any such percentage rent no later than December 15, 2016, with such calculation to be an amount mutually agreed upon by Seller and Buyer prior to Closingthe rate of 8% per annum).

Appears in 2 contracts

Samples: Workletter Agreement (Accolade, Inc.), Workletter Agreement (Accolade, Inc.)

Rent. The parties Tenant shall Prorate all pay base rent (referred to herein as “Base Rent” or “Rent”) to Hitachi and HTS at the place as Hitachi may from time to time designate, in coin or currency, which shall be Eleven Million Ninety Two Thousand Six Hundred and Eighty (11,092,680) Japanese Yen per year, payable in equal monthly installments of 655,714 Japanese Yen to Hitachi and 268,676 Japanese Yen to HTS. Such Base Rent actually received shall be reviewed annually and will be determined by Seller using the Rent formula (“Formula”) set forth in the attached Exhibit B as made a part hereof. Such new Base Rent amount will commence on October 1 of each Lease Year and end on September 31 of the following Lease Year. Landlord shall inform Tenant of the annual adjusted Rent amount pursuant to the form of Landlord Notice of Annual Rent Adjustment, which is attached hereto as Exhibit C. All rent payments shall be made in advance on or before the 15th day of each and every month during the Term, without any set-off or deduction whatsoever, except that Tenant shall pay the first full monthly installment at the time of execution of this Lease. If the Term commences other than on the first day of a month or ends other than on the last day of the month, the Rent for such month shall be prorated. All of any sums and payments due and owning under this Lease shall be deemed “Rent.” For purposes of this Lease, a lease year shall be the twelve (12) month period commencing with the first day of the month following the Commencement Date (or, if the Commencement Date falls on the first day of a month, commencing on the Commencement Date) and ending on the last day of the twelfth (12th) full calendar month thereafter, and each succeeding twelve (12) calendar month period (a “Lease Year”), and this Lease shall then terminate, unless extended, on the last day of the twentieth Lease Year (the “Expiration Date”). Tenant shall be responsible for the month payment of any consumption tax in which Closing occurs. At Closing, to connection with the extent actually received transactions contemplated by Seller prior to Closing, Seller shall pay to Buyer this Agreement and any and refund of all prepaid Rent relating or pertaining to the Property. If Seller receives payment for Rent after Closing, Seller shall immediately pay to Buyer the portion of such payment which relates to the period on and after the Closing Date, and any portion of such payment which relates to the period prior to Closing which was credited to Seller at Closing. Annual Rent increases pursuant to the Leases are to be paid through the day preceding the Closing Date; provided, however, that if this transaction Closes, Buyer will receive a Rent credit at Closing equal to the annual Rent increases beginning November 1, 2016 through the day preceding the Closing Date, which the parties shall Prorate for the month in which Closing occurs. Any Capital Expenditures Obligation (as defined in the Leases) of Seller, as landlord, pursuant to the Leases with respect to an annual $350 per unit allowance toward payment or reimbursement of Capital Expenditures (as defined in the Leases) made by Tenant consumption tax shall be paid retained by Seller through December 31, 2016, with any unused portion on any Property for the year 2016 to be applied as a credit to the Consideration allocated for that Property at Closing. If this transaction Closes, percentage rent under the Leases for the year 2016 (if any) shall accrue through October 31, 2016 and shall be paid to Seller at Closing; provided that Buyer shall provide to Seller all information and documents necessary to calculate any such percentage rent no later than December 15, 2016, with such calculation to be an amount mutually agreed upon by Seller and Buyer prior to ClosingTenant.

Appears in 2 contracts

Samples: Lease Agreement (Opnext Inc), Lease Agreement (Opnext Inc)

Rent. The parties Commencing on the Effective Date, if this is a subsequent PayPoint Agreement between Franchisee and Franchisor, or the Commencement Date, as defined below, if this is the initial PayPoint Agreement between Franchisee and Franchisor or, where applicable, the first day of the thirteenth month following the Commencement Date, Franchisee shall Prorate all Rent actually received by Seller pay to Franchisor, for participation in the PayPoint Network, transaction fees in the amount set forth on Exhibit A, which is incorporated herein, made a part hereof and attached hereto. Such fees shall be due and payable to Franchisor on or before the tenth day of the month following the month in which Closing occurssuch fees were incurred during the term of this Addendum. At Closing, to the extent actually received by Seller prior to Closing, Seller shall pay to Buyer any and all prepaid Rent relating or pertaining to the Property. If Seller receives payment for Rent after Closing, Seller shall immediately pay to Buyer the portion of such payment which relates to the period on and after the Closing Date, and any portion of such payment which relates to the period prior to Closing which was credited to Seller at Closing. Annual Rent increases pursuant to the Leases are to be paid through the day preceding the Closing Date; providedProvided, however, that if this transaction Closes, Buyer will receive a Rent credit Franchisee installs and ICR device at Closing equal the Facility prior to the annual Rent increases beginning November 1Commencement Date and operates it thereafter, 2016 Franchisee shall pay no fees for participation in the PayPoint Network for the first twelve months following the Commencement Date and 50% of the applicable fees for the balance of the term of this Agreement. The term "Commencement Date" shall mean the date on which the first "live" Transaction, that is, a Transaction involving a Cardholder at the Facility, is provided to Franchisee through the day preceding PayPoint Network. Commencing on the Closing Effective Date, which if this is a subsequent PayPoint Agreement between Franchisee and Franchisor or, if this is the parties initial PayPoint Agreement between Franchisee and Franchisor, on the Commencement Date, and thereafter on or before the first day of each month during the term of this Addendum, Franchisee shall Prorate also pay Franchisor telephone line charges set forth on Exhibit A. It is understood that if Franchisee's product agreements) with Franchisor expires within the first twelve months following the Commencement Date and Franchisee and Franchisor execute a new Addendum to Contract Dealer Gasoline Agreement (PayPoint Network Non-Lessee ARCO Retailer) and Franchisee has installed and is operating an ICR Device and is therefore eligible for the month in which Closing occurs. Any Capital Expenditures Obligation (waiver of transaction fees as defined set forth above, Franchisee shall pay no transaction fees for participation in the Leases) PayPoint Network for the number of Sellermonths remaining of the original twelve month waiver period following the original Commencement Date referred to in this Addendum. If Franchisor terminates this Addendum at any time during the term of this Addendum for cause or because Franchisee has been designated a Special Retailer as described in Paragraph 14, or if Franchisee elects to terminate this Addendum at the end of the thirteenth month following the Commencement Date, as landlordprovided below for Franchisees on their initial PayPoint agreement, Franchisee shall pay Franchisor as set forth on Exhibit D, attached hereto, incorporated herein and made a part hereof, for disconnection and removal of telephone lines. Franchisee agrees to pay promptly when due and to hold Franchisor harmless from all fees, and sales, use, rental, gross receipts, inventory, excise, income and any other taxes (including interest, penalties, and additions to tax) imposed by any federal, state or local governmental authority upon Franchisee or Franchisor (except those taxes based upon or measured by the net income of Franchisor) in connection with any payments made pursuant to the Leases this Addendum. Franchisee agrees to pay promptly when due and to hold Franchisor harmless from all sales or use taxes and other similar taxes (including interest, penalties and additions to tax) imposed upon or with respect to an annual $350 per unit allowance toward charges or the use of any loaned property. Franchisee shall furnish to Franchisor, promptly upon request, any documentation, which in Franchisor's discretion is required to evidence the payment or reimbursement of Capital Expenditures (as defined in any tax, including, but not limited to, official receipts of the Leases) made by Tenant shall be paid by Seller through December 31appropriate taxing authorities, 2016, with any unused portion on any Property for the year 2016 to be applied as a credit to the Consideration allocated for that Property at Closingcopies of tax returns and canceled checks. If this transaction Closesis the initial PayPoint agreement between Franchisee and Franchisor, percentage rent under on the Leases for first day of the year 2016 thirteenth month following the Commencement Date, Franchisee shall have the option, upon giving Franchisor at least 30 days prior written notice, to terminate this Addendum; to downgrade the number of PayPoint Electronic Cashiers (Island CardReaders), if any) shall accrue through October 31applicable; to downgrade to the Paypoint Cashier only (ARCOmatic terminal), 2016 if applicable; or the downgrade to the PayPoint Authorization Terminal (low end terminal device). Any downgrading of equipment is at Franchisee's sole cost and shall be paid to Seller at Closing; provided that Buyer shall provide to Seller all information and documents necessary to calculate any such percentage rent no later than December 15, 2016, with such calculation to be an amount mutually agreed upon by Seller and Buyer prior to Closingexpense.

Appears in 2 contracts

Samples: Contract Dealer Gasoline Agreement (Discovery Investments Inc), Discovery Investments Inc

Rent. The parties shall Prorate all Rent actually received by Seller for the month in which Closing occurs. At ClosingTenant covenants and agrees that without demand, to the extent actually received by Seller prior to Closingnotice or set off, Seller except as otherwise expressly provided herein, Tenant shall pay to Buyer any Landlord minimum annual rental (hereinafter the "Minimum Rental") and all prepaid percentage rental ("Percentage Rental") in the amounts as follows: Minimum Rental in the amount of [***] per square foot or [***] per annum, payable in equal monthly installments of [***] per month in advance on or before the first day of each month for Years [***]. Minimum Rent relating in the amount of [***] per square foot or pertaining [***] per annum, payable in equal monthly installments of [***] per month is due in advance on or before the first day of each month for Years [***]. Either party shall have the right to request a remeasurement of the Premises on written notice to the Propertyother party given within thirty (30) days after the Commencement Date and naming the architect or engineer it will have do the remeasurement. Upon fifteen (15) days prior written notice, the other party shall identify its architect or engineer, and the architects or engineers identified by both parties shall jointly measure the leasable square footage contained in the Premises. If Seller receives payment for Rent after Closingthe leasable square footage as so remeasured is less than that set forth in Part 1 hereof, Seller then the leasable square footage as stated herein shall immediately be revised and Minimum Rental shall be reduced accordingly, by an amount not to exceed [***] of the stated square footage and the Percentage Rental Breakpoint (as hereinafter defined) shall be proportionately adjusted. If the leasable square footage as so remeasured is greater than that set forth in Part 1 hereof, then the leasable square footage as stated herein shall be revised and the Minimum Rental shall be increased accordingly, by an amount not to exceed [***] of the stated square footage and the Percentage Rental Breakpoint shall be proportionately adjusted. Leasable square footage shall be measured from the exterior faces of all outside walls and from the center of all party walls. Notwithstanding anything to the contrary contained herein, in no event shall the leasable square footage of the Premises be less than [***] of the square footage as stated in Part 1 hereof. Tenant shall further pay to Buyer the portion Landlord Percentage Rental of such payment which relates to the period on [***] of annual Sales and after the Closing Date, and any portion of such payment which relates to the period prior to Closing which was credited to Seller at Closing. Annual Rent increases pursuant to the Leases are to be paid through the day preceding the Closing Date; provided, however, that if this transaction Closes, Buyer will receive a Rent credit at Closing equal to the annual Rent increases beginning November 1, 2016 through the day preceding the Closing Date, which the parties shall Prorate for the month in which Closing occurs. Any Capital Expenditures Obligation Business Transacted (as defined in the LeasesGeneral Lease Provisions) in excess of Seller[***] (the "Percentage Rental Breakpoint") per Lease Year (as herein defined) for Years [***], as landlord, pursuant to the Leases with respect to an and [***] of annual $350 Sales and Business Transacted in excess of [***] per unit allowance toward payment or reimbursement Lease Year for Years [***]. *** Confidential treatment requested. 5 All rental payments and payments of Capital Expenditures Additional Charges (as defined in the LeasesExhibit B) made by Tenant hereunder shall be paid by Seller through December 31sent to: Peabody Place Centre, 2016L.P. Attn: Accounts Receivable Department P. O. Box 0000 Xxxxxxx, with any unused portion on any Property for the year 2016 Xxxxxxxxx 00000-0000 or to be applied such other addresses as a credit Landlord may direct from time to the Consideration allocated for that Property at Closing. If this transaction Closes, percentage rent under the Leases for the year 2016 (if any) shall accrue through October 31, 2016 and shall be paid to Seller at Closing; provided that Buyer shall provide to Seller all information and documents necessary to calculate any such percentage rent no later than December 15, 2016, with such calculation to be an amount mutually agreed upon by Seller and Buyer prior to Closingtime.

Appears in 2 contracts

Samples: Retail Lease Agreement (Silicon Entertainment Inc /Ca/), Retail Lease Agreement (Silicon Entertainment Inc /Ca/)

Rent. The parties Minimum rent shall Prorate all Rent actually received by Seller for the be Thirty Seven Thousand Two Hundred Sixteen Dollars and Sixty-Seven Cents (37,216.67) per month in which Closing occurs(“Minimum Rent”). At Closing, to the extent actually received by Seller prior to Closing, Seller Tenant shall pay to Buyer Landlord without previous demand thereof and without any abatement, reduction, setoff or deduction whatsoever, the Minimum Rent (together with any applicable sales tax and all prepaid local taxes if the same are ever required by law), payable in equal monthly installments, in advance, on the first day of each and every calendar month throughout the Term of this Lease. The Minimum Rent relating or pertaining shall commence to accrue on the PropertyCommencement Date. If Seller receives payment for The first such monthly installments of Minimum Rent after Closing, Seller shall immediately pay to Buyer the portion of such payment which relates to the period on and after the Closing Date, and any portion of such payment which relates to the period prior to Closing which was credited to Seller at Closing. Annual Rent increases pursuant to the Leases are to be paid through the day preceding the Closing Date; provided, however, that if this transaction Closes, Buyer will receive a Rent credit at Closing equal to the annual Rent increases beginning November 1, 2016 through the day preceding the Closing Date, which the parties shall Prorate for the month in which Closing occurs. Any Capital Expenditures Obligation (as defined in the Leases) of Seller, as landlord, pursuant to the Leases with respect to an annual $350 per unit allowance toward payment or reimbursement of Capital Expenditures (as defined in the Leases) made by Tenant shall be paid by Seller through December 31, 2016, with any unused portion on any Property for the year 2016 due and payable to be applied as a credit to the Consideration allocated for that Property at Closing. If this transaction Closes, percentage rent under the Leases for the year 2016 (if any) shall accrue through October 31, 2016 and shall be paid to Seller at Closing; provided that Buyer shall provide to Seller all information and documents necessary to calculate any such percentage rent Landlord no later than December 15the Commencement Date and each subsequent monthly installment shall be due and payable to Landlord on the first day of each and every calendar month following the Commencement Date during the Term hereof. If the Commencement Date is a date other than the first day of the month, 2016Minimum Rent and other charges for the period commencing with and including the Commencement Date through the first day of the following month shall be prorated at the rate of one-thirtieth (1/30) of the monthly Minimum Rent per day. In addition, with such calculation Tenant shall pay as Additional Rent monthly payments of applicable taxes, assessments and insurance on the Premises. This amount will be 1/12 of the xxxx for annual real estate and assessment taxes and 1/12 of the annual xxxx on insurance. Estimated figures for taxes and insurance monthly rate will be produced within ten (10) days after the signing of this Lease. Each year Landlord will produce any insurance, real estate tax and assessment bills to be an the Tenant to show how the estimated taxes and insurance were computed as Additional Rent. In the event of any overage or underage due to the actual amounts owed and the payments made based on the estimated amounts during any Lease year, Landlord shall reimburse to Tenant the amount mutually agreed upon of any overage paid by Seller and Buyer prior Tenant or Tenant shall pay to ClosingLandlord the amount of any underage due from Tenant in either case within thirty (30) days of the delivery of the bills to Tenant as herein provided.

Appears in 2 contracts

Samples: To Lease (Radiation Therapy Services Holdings, Inc.), Lease (Radiation Therapy Services Inc)

Rent. The parties shall Prorate all Rent actually received by Seller for Lease section 4(B) is modified to provide that: For the month in which Closing occurs. At Closingperiod of time commencing on Expansion Area Commencement Date and ending on the Lease termination date, to the extent actually received by Seller prior to Closing, Seller Lessee shall pay to Buyer Lessor (in addition to any and all prepaid other Rent relating or pertaining due under the Lease) an additional minimum guaranteed base rent for the Expansion Area in the sum of twenty-two thousand four hundred and 00/100 dollars ($22,400.00), such additional base rent payable in minimum monthly installments of one thousand six hundred and 00/100 dollars ($1,600. 00). Lease section 4(D) is modified to provide that: The additional monthly base rent for the Property. If Seller receives payment Expansion Area shall be adjusted, if the date for Rent after Closing, Seller shall immediately pay to Buyer possession of the portion of such payment which relates to the period on and after the Closing Date, and any portion of such payment which relates to the period prior to Closing which was credited to Seller at Closing. Annual Rent increases Expansion Area given pursuant to Lease section 1.(A)3. above occurs on a day other than July 1, 2002. Said Monthly Rent for such partial month (regardless of the Leases are actual number of days such month actually has) shall be due and payable/credited at the rate of fifty-two and 45/100 dollars ($52.45) per day, for each day, after/until possession of Expansion Area is given to Lessee. The Rent due/credited for such partial month shall be paid through calculated from the date of possession of Expansion Area until the first (1/st/) day preceding of the Closing Datemonth immediately following such date of possession, payable in advance, as specified above. Notwithstanding the foregoing, Lessor shall grant to Lessee a "rent holiday" from the payment of one thousand six hundred and 00/100 dollars ($1,600.00) of the installment of Monthly Rent due only for the first (1st) full month of possession of Expansion Area (such period being hereinafter referred to as the "Expansion Area Free Rent Period"). During such Expansion Area Free Rent Period, all installments of Monthly Rent shall be abated as stated above (such rental abatement being hereinafter referred to as the "Expansion Area Free Rent Allowance"); provided, however, that if that: i) the Expansion Area Free Rent Period and the granting of the Expansion Area Free Rent Allowance as provided hereunder shall not affect the Expansion Area Commencement Date as determined herein; ii) Lessee shall remain obligated during the Expansion Area Free Rent Period to pay all Additional Rent payable pursuant to this transaction Closes, Buyer will receive a Rent credit at Closing equal Lease and to the annual Rent increases beginning November 1, 2016 through the day preceding the Closing Date, which the parties shall Prorate for the month in which Closing occurs. Any Capital Expenditures Obligation (perform all of Lessee's obligations under this Lease except as defined expressly aforesaid; and iii) in the Leases) event of Sellerany termination of this Lease by Lessor based upon a default hereunder by Lessee, as landlord, pursuant to the Leases with respect to an annual $350 per unit allowance toward payment or reimbursement entire amount of Capital Expenditures (as defined Monthly Rent which would have otherwise been due and payable hereunder during the Expansion Area Free Rent Period in the Leases) made by Tenant absence of the Expansion Area Free Rent Allowance shall be paid by Seller through December 31, 2016, with any unused portion on any Property for the year 2016 to be applied as a credit to the Consideration allocated for that Property at Closing. If this transaction Closes, percentage rent under the Leases for the year 2016 (if any) shall accrue through October 31, 2016 immediately become due and shall be paid to Seller at Closing; provided that Buyer shall provide to Seller all information and documents necessary to calculate any such percentage rent no later than December 15, 2016, with such calculation to be an amount mutually agreed upon by Seller and Buyer prior to Closingpayable.

Appears in 1 contract

Samples: Lease Agreement (Inphonic Inc)

Rent. The parties shall Prorate all Tenant covenants and agrees to pay without demand, recoupment, abatement, deduction or offset, to Landlord Rent actually received by Seller (and Additional Rent) for the Premises on or before the first (1st) day of the first (1st) full calendar month of the Term hereof and on or before the first (1st) day of each and every successive calendar month thereafter during the full Term of this Lease, subject to the adjustments as provided hereinafter, along with any applicable tax, at the rate in effect at the time of each such payment (currently seven (7%) percent. Upon Tenant’s execution of this Lease, Tenant shall submit with the signed Lease the first month’s rent as defined in Section 1(g). In the event the Commencement Date occurs on a day other than the first (1st) day of a calendar month, the first Rent payment shall be in the amount of the Rent for one (1) full calendar month, plus the prorated Rent for the calendar month in which Closing occursthe Term of this Lease commences, such payment to be due on the Commencement Date. At Closing, Landlord shall be responsible for directing such tax to the extent actually received by Seller prior to Closingappropriate taxing authority in a timely fashion, Seller shall pay to Buyer any and all prepaid Rent relating on or pertaining to before the Property. If Seller receives payment for Rent after Closing, Seller shall immediately pay to Buyer the portion of such payment which relates to the period on and after the Closing Datesame is due, and shall be liable for any portion late fees or charges for failure to comply with this requirement. Whenever under the terms of such payment which relates to the period prior to Closing which was credited to Seller at Closing. Annual Rent increases pursuant to the Leases are this Lease any sum of money is required to be paid through the day preceding the Closing Date; provided, however, that if this transaction Closes, Buyer will receive a Rent credit at Closing equal by Tenant in addition to the annual Rent increases beginning November 1herein reserved, 2016 through the day preceding the Closing Datewhether or not such sum is herein described as “Additional Rent”, which the parties shall Prorate or a provision is made for the month in which Closing occurs. Any Capital Expenditures Obligation (collection of said sum as defined in the Leases) of Seller“Additional Rent” said sum shall nevertheless, as landlordat Landlord’s option, pursuant to the Leases with respect to an annual $350 per unit allowance toward payment or reimbursement of Capital Expenditures (as defined in the Leases) made by Tenant shall if not paid when due, be paid by Seller through December 31deemed Additional Rent, 2016, with any unused portion on any Property for the year 2016 to be applied as a credit to the Consideration allocated for that Property at Closing. If this transaction Closes, percentage rent under the Leases for the year 2016 (if any) shall accrue through October 31, 2016 and shall be paid collectible as such with the first installment of Rent thereafter falling due hereunder. In the event any installment or increment of Rent or Additional Rent payable under this Lease shall not be received by Landlord within five (5) business days of the date due, a “late charge” of five percent (5%) of the amount overdue may be charged (as Additional Rent) by Landlord for the purpose of defraying the expense and inconvenience incident to Seller at Closing; provided that Buyer shall provide to Seller all information handling such overdue payment and documents necessary to calculate any such percentage rent no later than December 15, 2016, with such calculation to be an amount mutually agreed upon by Seller for the purpose of compensating Landlord for its attendant inconvenience and Buyer prior to Closingloss of cash flow.

Appears in 1 contract

Samples: Lease Agreement (Metastorm Inc)

Rent. The parties shall Prorate all Rent actually received by Seller Tenant covenants and agrees to pay, without demand and without any offset or deduction whatsoever, and Landlord agrees to accept as rent for the Premises, the amount of Two Thousand Four Hundred Thirty Two Dollars ($2,432.00), payable in advance, on the first day of each calendar month, in equal installments of Two Hundred Two Dollars and Sixty Six Cents ($202.66) a month in which Closing occursduring the term of this Lease. At ClosingRent shall be prorated for any initial or final fractional months of any Initial or Renewal Term of this Lease. Prorated rent due for any initial fractional month of the Lease shall be due on the date this Lease is executed. Landlord reserves the right, but shall not be obligated, to perform, or to pay for the extent actually received performance of, any act required of Tenant hereunder or the cure of any default hereunder which is not performed by Seller prior to ClosingTenant within any applicable grace period. Any sums so expended by Landlord shall be due and payable by Tenant immediately upon written demand. Any such sums, Seller shall pay to Buyer along with any and all prepaid Rent relating or pertaining to the Property. If Seller receives payment for Rent after Closing, Seller shall immediately pay to Buyer the portion other monetary obligations of such payment which relates to the period on and after the Closing DateTenant hereunder, and any portion other sums so designated herein shall be considered “Additional Rent.” All such rent and Additional Rent shall be payable and paid in lawful money of the United States of America, without relief from valuation or appraisement laws. All rent, Additional Rent and any other monetary obligations of Tenant hereunder which remain unpaid after written notice thereof from Landlord, shall bear interest at the rate of eight percent (8%) per annum. Tenant shall pay Landlord’s reasonable attorneys’ fees for collection of the same. In addition to interest, if Tenant fails to pay any rent or Additional Rent within ten (10) days after the same becomes due and payable, Tenant shall pay a late payment service charge of $50.00 for each full or partial calendar month that any such payment which relates amount remains unpaid. At the end of each calendar year, Landlord shall determine the amount of the aggregate percentage increase, during such calendar year, in the per unit costs of the heat, electricity, gas, water, sewage, or any other utilities or utility services to the period prior Old Vanderburgh County Courthouse. Effective at the beginning of the subsequent calendar year, Landlord shall be entitled to Closing which was credited to Seller at Closing. Annual Rent increases pursuant to an increase in the Leases are to be paid through the day preceding the Closing Date; provided, however, that if this transaction Closes, Buyer will receive a Rent credit at Closing equal to the annual Rent increases beginning November 1, 2016 through the day preceding the Closing Daterent due hereunder during such calendar year, which the parties shall Prorate for the month in which Closing occurs. Any Capital Expenditures Obligation (as defined in the Leases) of Seller, as landlord, pursuant to the Leases with respect to an annual $350 per unit allowance toward payment or reimbursement of Capital Expenditures (as defined in the Leases) made by Tenant increase shall be paid by Seller through December 31based upon such aggregate percentage increase in utility costs, 2016, with any unused portion on any Property for the year 2016 to be applied as a credit to the Consideration allocated for that Property at Closing. If this transaction Closes, percentage rent under the Leases for the year 2016 (if any) shall accrue through October 31, 2016 and shall be paid to Seller at Closing; provided that Buyer shall provide to Seller all information and documents necessary to calculate any such percentage rent no later than December 15, 2016, with such calculation to be an amount mutually agreed upon by Seller and Buyer prior to Closingduring the preceding year.

Appears in 1 contract

Samples: Lease Agreement

Rent. The parties In consideration of this lease, Tenant promises and agrees to pay Landlord the Basic Rental defined in the Basic Lease Information (subject to adjustment as hereinafter provided) without deduction or setoff, for each month of the entire lease term. One such monthly installment together with the security deposit shall Prorate all be payable by Tenant to Landlord contemporaneously with the execution of this lease, and a like monthly installment shall be due and payable without demand beginning on the first day of the calendar month following the expiration of the first full calendar month of the lease term and continuing thereafter on or before the first day of each succeeding calendar month during the term hereof. Rent actually for any fractional month at the beginning of the lease term shall be prorated based on one three hundred sixty-fifth (1/365) of the current annual Basic Rental for each day of the partial month this lease is in effect, and shall be due and payable on or before the date on which Tenant certifies that it has accepted the premises pursuant to Paragraph 2 hereof. In the event any installment of the Basic Rental, or any other sums which become owing by Tenant to Landlord under the provisions hereof is not received by Seller for within ten (10) days after the month due date thereof (without in which Closing occurs. At Closingany way implying Landlord's consent to such late payment), Tenant, to the extent actually received permitted by Seller prior law, agrees to Closingpay, Seller in addition to said installment of the Basic Rental or such other sums owed, a late payment charge equal to ten percent (10%) of the installment of the Basic Rental or such other sums owed, it being understood that said late payment charge shall pay constitute liquidated damages and shall be for the purpose of reimbursing Landlord for the additional costs and expenses which Landlord presently expects to Buyer incur in connection with the handling and processing of late installment payments of the Basic Rental and such other sums which become owing by Tenant to Landlord hereunder. Landlord and Tenant expressly covenant and agree that in the event of any such late payment(s) by Tenant, the damages so resulting to Landlord will be difficult to ascertain precisely, and all prepaid Rent relating or pertaining to that the Property. If Seller receives payment for Rent after Closing, Seller shall immediately pay to Buyer foregoing charge constitutes a reasonable and good faith estimate by the portion parties of the extent of such payment damages. Notwithstanding the foregoing, the foregoing late charges shall not apply to any sums which relates may have been advanced by Landlord to or for the period on and after the Closing Date, and any portion benefit of such payment which relates to the period prior to Closing which was credited to Seller at Closing. Annual Rent increases Tenant pursuant to the Leases are provisions of this lease, it being understood that such sums shall bear interest, which Tenant hereby agrees to pay to Landlord, at the maximum rate of interest permitted by law to be paid through the day preceding the Closing Date; provided, however, that if this transaction Closes, Buyer will receive a Rent credit at Closing equal to the annual Rent increases beginning November 1, 2016 through the day preceding the Closing Date, which the parties shall Prorate charged Tenant for the month in which Closing occursuse or forbearance of such money. Any Capital Expenditures Obligation The security deposit (as defined in the LeasesBasic Lease Information) shall be held by Landlord without liability for interest and as security for the performance by Tenant of SellerTenant's covenants and obligations under this lease, as landlordit being expressly understood that such deposit shall not be considered an advance payment of rental or a measure of Landlord's damages in case of default by Tenant. Upon the occurrence of any event of default by Tenant, pursuant Landlord may, from time to time, without prejudice to any other remedy, use such deposit to the Leases with respect extent necessary to an annual $350 per unit allowance toward payment make good any arrearages of rent and any other damage, injury, expense or reimbursement liability caused to Landlord by such event of Capital Expenditures (as defined default. Following any such application of the security deposit, Tenant shall pay to Landlord on demand the amount so applied in order to restore the security deposit to its original amount. If Tenant is not then in default hereunder, any remaining balance of such deposit shall be returned by Landlord to Tenant within a reasonable period of time after the termination of this lease. If Landlord transfers its interest in the Leases) made by Tenant premises during the lease term, Landlord may assign the security deposit to the transferee and thereafter shall be paid by Seller through December 31, 2016, with any unused portion on any Property have no further liability for the year 2016 to be applied as a credit to the Consideration allocated for that Property at Closing. If this transaction Closes, percentage rent under the Leases for the year 2016 (if any) shall accrue through October 31, 2016 and shall be paid to Seller at Closing; provided that Buyer shall provide to Seller all information and documents necessary to calculate any return of such percentage rent no later than December 15, 2016, with such calculation to be an amount mutually agreed upon by Seller and Buyer prior to Closingsecurity deposit.

Appears in 1 contract

Samples: Office Building Lease Agreement (Rackspace Com Inc)

Rent. The parties shall Prorate all Rent actually received by Seller for the month in which Closing occurs. At ClosingUpon execution of this Lease, to the extent actually received by Seller prior to Closing, Seller Tenant shall pay to Buyer any Landlord the sum of $33,243.24 constituting Base Rent and all prepaid Rent relating or pertaining to the Property. If Seller receives payment for Rent after Closing, Seller shall immediately pay to Buyer the portion estimated Tenant’s Pro Rata Share of such payment which relates to the period on Taxes and after the Closing Date, Expenses due and any portion of such payment which relates to the period prior to Closing which was credited to Seller at Closing. Annual Rent increases pursuant to the Leases are to be paid through the day preceding the Closing Date; provided, however, that if this transaction Closes, Buyer will receive a Rent credit at Closing equal to the annual Rent increases beginning November 1, 2016 through the day preceding the Closing Date, which the parties shall Prorate payable by Tenant for the first full calendar month of the Term for which Rent is payable hereunder. Except as otherwise set forth in which Closing occursthis Lease, Tenant shall pay Landlord, without any setoff or deduction all Base Rent and Additional Rent for the Term (collectively referred to as "Rent") when due. Any Capital Expenditures Obligation "Additional Rent" means all sums (as defined exclusive of Base Rent) that Tenant is required to pay Landlord under this Lease, including, without limitation, payments for insurance, repairs and parking and Tenant's Pro Rata Share of Taxes and Expenses. Tenant shall pay and be liable for all rental, sales and use taxes (but excluding income taxes), if any, imposed upon or measured by Rent. Base Rent and recurring monthly charges of Additional Rent shall be due and payable in advance on the Leases) first day of Seller, as landlord, pursuant to the Leases with respect to an annual $350 per unit allowance toward payment each calendar month without notice or reimbursement demand. All other items of Capital Expenditures (as defined in the Leases) made Rent shall be due and payable by Tenant shall be paid on or before 30 calendar days after billing by Seller through December 31, 2016, with any unused portion on any Property for the year 2016 to be applied as a credit to the Consideration allocated for that Property at ClosingLandlord. If this transaction Closes, percentage rent under the Leases for the year 2016 (if any) shall accrue through October 31, 2016 and All Rent payable by Tenant hereunder shall be paid to Seller Landlord in lawful money of the United States of America, by check made payable to the entity constituting Landlord hereunder and sent to the address designated in Section 1.10 of the Basic Lease Information, or to such other location or address as Landlord may designate from time to time. Tenant shall pay Landlord a one time administration fee equal to 5% of any Rent that is past due Rent. In addition, Rent that is five (5) calendar days past due shall accrue interest until paid at Closing; provided that Buyer 12% per annum (or the maximum rate legally permissible, whichever is less). Notwithstanding the foregoing, Tenant shall provide be entitled to Seller all information notice and documents necessary to calculate any such percentage rent no later than December 15, 2016, with such calculation to be an amount mutually agreed upon by Seller and Buyer the expiration of a five (5) day cure period prior to Closingimposition of any late charge or interest charge under this Section 3 one (1) time per calendar year; after such written notice has been provided to Tenant in a calendar year, Tenant shall not be entitled to any further notice prior to imposition of a late charge or interest under this Section 3 in such calendar year. Rent for any partial month during the Term shall be prorated. No endorsement or statement on a check or letter accompanying payment shall be considered an accord and satisfaction. Tenant's covenant to pay Rent is independent of every other covenant in this Lease. Further, in the event any check submitted by Tenant is returned by reason of "non sufficient funds", Tenant shall pay to Landlord an "NSF Fee" at Landlord's standard rate then in effect.

Appears in 1 contract

Samples: Office Lease Agreement (ChromaDex Corp.)

Rent. The parties shall Prorate all Rent actually received by Seller Commencing the earlier of: (i) the Commencement Date; or (ii) the date that Tenant opens for the month in which Closing occurs. At Closing, business to the extent actually received by Seller prior to Closingpublic in the Premises (“Rent Commencement Date”), Seller Tenant shall pay to Buyer Landlord an annual rental (“Rent”) for the Premises during the initial Lease Term of Four Dollars ($4.00) per square foot of interior sales floor area which is approximately twelve hundred (1200) square feet. [NOTE: For the first one hundred and twenty stores, Rent shall not commence until one hundred and twenty days after the Delivery Date.] Rent shall be payable in advance on or before the first (1st) of each month in monthly installments, without abatement (except as provided in Sections 10.2 and 10.3 hereof and other portions of this Lease with specific abatement rights), deduction, or offset. After the Commencement Date, Landlord shall cause its architect to field measure the interior sales floor area of the Premises and prepare a certification of square footage (measuring the square footage of such area from the exterior of exterior walls and the center point of any shared walls); such certification to be in a form reasonably acceptable to Tenant. Appropriate proration of Rent and all prepaid other charges payable hereunder shall be made if the Rent relating Commencement Date is not on the first day of a calendar month, or pertaining to if the Propertydate of termination of the Lease is not on the last day of a calendar month. If Seller receives payment for Rent after Closing, Seller Tenant shall immediately pay to Buyer Landlord together with the portion payment of such payment Rent, any sales or use tax now or hereafter imposed upon the Rent or any other charges payable by Tenant by the state in which relates to the period on and after the Closing Date, Premises are located and any portion agency of such payment which relates to the period prior to Closing which was credited to Seller at Closingfederal government or any local government. Annual All Rent increases pursuant to the Leases are to be paid through the day preceding the Closing Date; provided, however, that if this transaction Closes, Buyer will receive a Rent credit at Closing equal to the annual Rent increases beginning November 1, 2016 through the day preceding the Closing Date, which the parties shall Prorate for the month in which Closing occurs. Any Capital Expenditures Obligation (as defined in the Leases) of Seller, as landlord, pursuant to the Leases with respect to an annual $350 per unit allowance toward payment or reimbursement of Capital Expenditures (as defined in the Leases) made by Tenant checks shall be paid by Seller through December 31forwarded to: LXXX’X HOME CENTERS, 2016INC. Attn: Property Management Dept. (REO) P. O. Bxx 0000 Xxxxx Xxxxxxxxxx, with any unused portion on any Property for the year 2016 to be applied as a credit to the Consideration allocated for that Property at Closing. If this transaction Closes, percentage rent under the Leases for the year 2016 (if any) shall accrue through October 31, 2016 and shall be paid to Seller at Closing; provided that Buyer shall provide to Seller all information and documents necessary to calculate any such percentage rent no later than December 15, 2016, with such calculation to be an amount mutually agreed upon by Seller and Buyer prior to Closing.XX 00000

Appears in 1 contract

Samples: Strategic Alliance Agreement (Nationsrent Inc)

Rent. The parties Commencing on the Commencement Date, Subtenant shall Prorate pay to Sublandlord as base monthly rent ("Base Monthly Rent") for the Subleased Premises the following: MONTHS RENT/SQ. FT./MO. NNN Commencement Date $71,911.80 through 8/31/98 9/1/98 through 8/31/99 $74,100.42 9/1/99 through 8/31/00 $76,289.04 Rent shall be payable by Subtenant to Sublandlord in consecutive monthly installments on or before the first day of each calendar month during the Sublease Term without deductions, offset, prior notice or demand. If the Commencement Date or the termination date of the Sublease occurs on a date other than the first day or the last day, respectively, of a calendar month, then the Rent for such partial month shall be prorated based on the actual number of days in the calendar month and the prorated Rent shall be payable on the Commencement Date or on the first day of the calendar month in which the Sublease termination date occurs, respectively. In addition to Base Monthly Rent, and as additional rent, Subtenant shall pay to Sublandlord all other costs, expenses and other amounts payable by Sublandlord under the Master Lease including, without limitation all amounts payable by Sublandlord pursuant to paragraph 4.D of the Master Lease and all costs of utilities serving the Subleased Premises; provided however, Subtenant shall not be required to pay any additional rent that is payable as a result of a default by Sublandlord of any of its obligations under the Master Lease. All amounts in addition to Base Monthly Rent actually received required to be paid by Seller Subtenant under this Sublease shall be deemed to be rent ("Rent"). Upon execution hereof, Subtenant shall deposit with Sublandlord the sum of Seventy- One Thousand Nine Hundred Eleven Dollars and Eighty Cents ($71,911.80) which amount shall be applied against the Base Monthly Rent due under this Sublease for the first month of the Sublease Term. In consideration of Sublandlord's agreement to enter into this Sublease, and as additional rent, on or before ten (10) days following the date that this Sublease is fully executed and delivered by Sublandlord and Subtenant, Subtenant shall pay to Landlord an amount equal to fifty percent (50%) of the amount of Basic Rent (as that term is defined in the Master Lease) and Additional Rent (as that term is defined in the Master Lease) that is payable by Sublandlord to Landlord for the month in which Closing occurs. At Closing, to the extent actually received by Seller prior to Closing, Seller shall pay to Buyer any and all prepaid Rent relating or pertaining to the Property. If Seller receives payment for Rent after Closing, Seller shall immediately pay to Buyer the portion of such payment which relates to the period on and after the Closing Date, and any portion of such payment which relates to the period prior to Closing which was credited to Seller at Closing. Annual Rent increases pursuant to the Leases are to be paid through the day preceding the Closing Date; provided, however, that if this transaction Closes, Buyer will receive a Rent credit at Closing equal to the annual Rent increases beginning November 1, 2016 through the day preceding the Closing Date, which the parties shall Prorate for the month in which Closing occurs. Any Capital Expenditures Obligation (as defined in the Leases) of Seller, as landlord, pursuant to the Leases with respect to an annual $350 per unit allowance toward payment or reimbursement of Capital Expenditures (as defined in the Leases) made by Tenant shall be paid by Seller through December 31, 2016, with any unused portion on any Property for the year 2016 to be applied as a credit to the Consideration allocated for that Property at Closing. If this transaction Closes, percentage rent under the Leases for the year 2016 (if any) shall accrue through October 31, 2016 and shall be paid to Seller at Closing; provided that Buyer shall provide to Seller all information and documents necessary to calculate any such percentage rent no later than December 15, 2016, with such calculation to be an amount mutually agreed upon by Seller and Buyer prior to ClosingAugust.

Appears in 1 contract

Samples: Pointcast Inc

Rent. The parties shall Prorate all In consideration of this lease, Tenant promises and agrees to pay landlord the Basic Rental without deduction or setoff except as herein provided for each month of the entire Lease Term. Rent actually received by Seller due for the period beginning 12/15/94 11/30/95 shall be payable by Tenant to Landlord one half upon lease execution and one half upon commencement of the Lease Term. See also Section 40.1. and a monthly installment as outlined in Section 1(e) shall be due and payable without demand beginning on the first day of the calendar month following the expiration of the first full calendar month of the Lease Term and continuing thereafter on or before the first day of each succeeding calendar month during the term hereof. Rent for any fractional month at the beginning of the Lease Term shall be prorated based on one three hundred sixtieth (1/360) of the current annual basic rent for Landlord's initials /s/ Tenant's initials /s/ ------- ------- each day of the partial month this lease is in effect and shall be due and payable upon written notice from Landlord to Tenant. In the event any installment of the Basic Rental, or any other sums which Closing occursbecome owning by Tenant to Landlord under the provisions hereof are not received within five (5) days after the due date thereof (without in any way implying Landlord's consent to such late payment). At ClosingTenant, to the extent actually received permitted by Seller prior law, agrees to Closingpay, Seller in addition to said installment of the basic rental or such other sums owed, a late payment charge equal to ten percent (10%) of the installment of the Basic Rental or such other sums owed. Notwithstanding the foregoing, the foregoing late charges shall pay not apply to Buyer any and all prepaid Rent relating sums which may have been advanced by Landlord to or pertaining to for the Property. If Seller receives payment for Rent after Closing, Seller shall immediately pay to Buyer the portion benefit of such payment which relates to the period on and after the Closing Date, and any portion of such payment which relates to the period prior to Closing which was credited to Seller at Closing. Annual Rent increases Tenant pursuant to the Leases are provisions of this lease, it being understood that such sums shall bear interest, which Tenant hereby agrees to pay to Landlord, at the maximum rate of interest permitted by law to be paid through the day preceding the Closing Date; provided, however, that if this transaction Closes, Buyer will receive a Rent credit at Closing equal to the annual Rent increases beginning November 1, 2016 through the day preceding the Closing Date, which the parties shall Prorate charged Tenant for the month in which Closing occurs. Any Capital Expenditures Obligation (as defined in the Leases) use or forbearance of Seller, as landlord, pursuant to the Leases with respect to an annual $350 per unit allowance toward payment or reimbursement of Capital Expenditures (as defined in the Leases) made by Tenant shall be paid by Seller through December 31, 2016, with any unused portion on any Property for the year 2016 to be applied as a credit to the Consideration allocated for that Property at Closing. If this transaction Closes, percentage rent under the Leases for the year 2016 (if any) shall accrue through October 31, 2016 and shall be paid to Seller at Closing; provided that Buyer shall provide to Seller all information and documents necessary to calculate any such percentage rent no later than December 15, 2016, with such calculation to be an amount mutually agreed upon by Seller and Buyer prior to Closingmoney.

Appears in 1 contract

Samples: Lease Agreement (Pervasive Software Inc)

Rent. The parties shall Prorate all Rent actually received by Seller for During the month in which Closing occurs. At ClosingPrimary Term and any Extension Terms, to the extent actually received by Seller prior to Closing, Seller Lessee shall pay to Buyer Lessor the amounts set forth in Exhibit C attached hereto and made a part hereof for all purposes as basic rent for the Premises ("Basic Rent"). Lessee shall pay Basic Rent to Lessor (or to Lessor's Mortgagee, upon Lessor's request) by wire transfer, in immediately available funds, as follows: Bank: Mellon Bank Pittsburgh, PA ABA Routing #: 043 000 261 Account Number: 101-1730 Account Name: Merrill Lynch For further credit to: Account No. 000-00090, Xxcount Name: NL Ventures IV New Hope, L.P. Merrill Lynch contact: Susan West @ 972-980-0000, xx xx xxxx xxxxx xxxxxxx xx xo such othxx xxxxxx as Xxxxxx xxxx time to time may designate. Lessor shall give Lessee not less than 15 days' prior written notice of any and all prepaid Rent relating or pertaining change in the address to the Property. If Seller receives payment for Rent after Closing, Seller shall immediately pay to Buyer the portion of which such payment which relates to the period on and after the Closing Date, and any portion of such payment which relates to the period prior to Closing which was credited to Seller at Closing. Annual Rent increases pursuant to the Leases payments are to be paid through made. If the day party entitled to receive Basic Rent or such party's address shall change, Lessee may, until receipt of notice of such change from the party entitled to receive Basic Rent immediately preceding the Closing Date; providedsuch change, however, that if this transaction Closes, Buyer will receive a continue to pay Basic Rent credit at Closing equal and additional charges to the party to which, and in the manner in which, the preceding installment of Basic Rent or additional charges, as the case may be, was paid. Such annual rentals shall be payable in equal monthly installments in advance on the first day of each month and prorated Basic Rent increases beginning November 1, 2016 through shall be payable on the day preceding the Closing Commencement Date, which if such date does not fall on the parties shall Prorate for first day of the month in which Closing occursmonth. Any Capital Expenditures Obligation (as defined rental payment made in respect of a period which is less than one month shall be prorated by multiplying the Leases) then applicable monthly rental by a fraction the numerator of Seller, as landlord, pursuant to which is the Leases number of days in such month with respect to an annual $350 per unit allowance toward payment or reimbursement which rent is being paid and the denominator of Capital Expenditures (as defined which is the total number of days in the Leases) made by Tenant such month. Lessee shall be paid by Seller through December 31perform all its obligations under this Lease at its sole cost and expense, 2016, with any unused portion on any Property for the year 2016 to be applied as a credit to the Consideration allocated for that Property at Closing. If this transaction Closes, percentage rent under the Leases for the year 2016 (if any) shall accrue through October 31, 2016 and shall be paid to Seller at Closing; provided that Buyer shall provide to Seller pay all information Basic Rent, additional charges and documents necessary to calculate any such percentage rent no later than December 15other sum due hereunder when due and payable, 2016, with such calculation to be an amount mutually agreed upon by Seller and Buyer prior to Closingwithout notice or demand.

Appears in 1 contract

Samples: Lease Agreement (Navarre Corp /Mn/)

Rent. The parties shall Prorate all Rent actually received by Seller for Commencing on the month in which Closing occurs. At ClosingCommencement Date, to the extent actually received by Seller prior to Closing, Seller Sublessee shall pay to Buyer Sublessor annual gross Rent, prorated on a monthly basis, in the amounts set forth below: Sublease Year Rate per sq foot Annual Rent Monthly Rent Year 1 $6.75 $659,394.00 $54,949.50 Year 2 $6.82 $665,988.00 $55,499.00 Year 3 $6.89 $672,648.00 $56,053.98 Year 4 $6.95 $679,374.00 $56,614.52 Sublessee promises to pay to Sublessor in advance, without demand, deduction or set-off the monthly installments of Rent on or before the first day of each calendar month. Payments of Rent for any fractional calendar month shall be prorated. Rent shall increase effective on the first day of the first full month following each yearly anniversary of the Commencement Date during the Term. All payments required to be made by Sublessee to Sublessor hereunder shall be payable at such address as Sublessor may specify from time to time by written notice delivered in accordance herewith. The obligation of Sublessee to pay Rent and all prepaid any other sums to Sublessor and the obligations of Sublessor under this Sublease are independent obligations. Sublessee shall have no right at any time to axxxx, reduce, or set-off any Rent relating or pertaining due hereunder except as may be expressly provided in this Sublease. Notwithstanding the foregoing, in the event Sublessor fails to make payments to the PropertyLandlord as required by the Master Lease or perform its obligations as required by the Master Lease, Sublessee shall be entitled, but not obligated, to make such payments or perform such duties and may deduct said amounts from Rent payments due hereunder. If Seller receives payment for Sublessee is delinquent in any monthly installment of Rent beyond five (5) days after Closingthe due date thereof, Seller and after written notice as provided below, Sublessee shall immediately pay to Buyer the portion Sublessor on demand a late charge equal to five (5) percent of such delinquent sum. Sublessee shall not be obligated to pay the late charge until Sublessor has given Sublessee five (5) days written notice of the delinquent payment (which relates to may be given at any time during the period on and after the Closing Date, and any portion of such payment which relates to the period prior to Closing which was credited to Seller at Closing. Annual Rent increases pursuant to the Leases are to be paid through the day preceding the Closing Datedelinquency); provided, however, that if this transaction Closes, Buyer will receive a Rent credit at Closing equal to such notice shall not be required more than twice in any 12-month period or four times during the annual Rent increases beginning November 1, 2016 through the day preceding the Closing Date, which the parties shall Prorate Term. The provision for the month in which Closing occurs. Any Capital Expenditures Obligation (as defined in the Leases) of Seller, as landlord, pursuant to the Leases with respect to an annual $350 per unit allowance toward payment or reimbursement of Capital Expenditures (as defined in the Leases) made by Tenant such late charge shall be paid by Seller through December 31, 2016, with any unused portion on any Property for the year 2016 in addition to all of Sublessor’s other rights and remedies hereunder or at law and shall not be applied construed as a credit to the Consideration allocated for that Property at Closing. If this transaction Closes, percentage rent under the Leases for the year 2016 (if any) shall accrue through October 31, 2016 and shall be paid to Seller at Closing; provided that Buyer shall provide to Seller all information and documents necessary to calculate penalty or as liquidating Sublessor’s remedies in any such percentage rent no later than December 15, 2016, with such calculation to be an amount mutually agreed upon by Seller and Buyer prior to Closingmanner.

Appears in 1 contract

Samples: Escrow Agreement (Hurco Companies Inc)

Rent. The parties shall Prorate all Rent actually received by Seller for the month in which Closing occurs. At Closing, to the extent actually received by Seller prior to Closing, Seller Tenant shall pay to Buyer Landlord over the 10-year term of this Lease, base rent prior to any adjustment in the amount of Fourteen Million Five Hundred Ten Thousand Four Hundred Ninety and all prepaid 00/100 Dollars ($14,510,490.00) (hereinafter "Term Rent"). The Term Rent relating or pertaining is based upon a rental rate of Fourteen Dollars and Twenty-Five Cents ($14.25), exclusive of electricity per square foot of cross rentable area in the Premises and will be paid to Landlord on a monthly basis of equal installments ("Monthly Base Rent") of One Hundred Twenty Thousand Nine Hundred Twenty Dollars and Seventy-Five Cents ($120,920.75), payable in advance. The first installment shall be payable promptly upon the Propertycommencement of Tenant's non-building standard work in an amount equal to a full month's installment, and the remaining installments shall be payable in advance on the first day of the second full calendar month and each calendar month thereafter during the Term. Landlord hereby waives its right to collect the Monthly Base Rent for the second full calendar month of the Term of this Lease. If Seller receives payment the Lease Commencement Date occurs on a day other than the first day of a month, the Monthly Base Rent from the Lease Commencement Date until the first day of the following month shall be prorated at the rate of one-thirtieth (1/30) of the Monthly Base Rent for each day, and shall he payable on the first day of the third full calendar month of the term of this Lease, together with the Monthly Base Rent after Closingfor the third full calendar month. In addition to Monthly Base Rent as adjusted pursuant to Section 5, Seller Tenant shall immediately pay to Buyer Landlord as additional rent ("Additional Rent") consisting of all other sums of money as shall become due from Tenant under this Lease. Tenant will pay the portion rent without demand, deduction, set-off or counterclaim. Any installment of such payment which relates to the period on and after the Closing DateMonthly Base Rent, and any portion of such payment which relates to the period prior to Closing which was credited to Seller at Closing. Annual Additional Rent increases pursuant to the Leases are or other sums required to be paid through to Landlord hereunder which is not paid within five (5) days after the day preceding the Closing Date; provided, however, that if this transaction Closes, Buyer will receive a Rent credit at Closing equal to the annual Rent increases beginning November 1, 2016 through the day preceding the Closing Date, which the parties shall Prorate for the month in which Closing occurs. Any Capital Expenditures Obligation (as defined in the Leases) of Seller, as landlord, pursuant to the Leases with respect to an annual $350 per unit allowance toward payment or reimbursement of Capital Expenditures (as defined in the Leases) made by Tenant same becomes due and payable shall be paid by Seller through December 31, 2016, with any unused portion on any Property for the year 2016 subject to be applied as a credit to the Consideration allocated for that Property at Closinglate charge of 5% of such installment. If Landlord shall at any time or times accept any rent after it has become due and payable such acceptance shall not excuse delay at subsequent times, or constitute a waiver of any of Landlord's rights under this transaction Closes, percentage rent under the Leases for the year 2016 (if any) shall accrue through October 31, 2016 and shall be paid to Seller at Closing; provided that Buyer shall provide to Seller all information and documents necessary to calculate any such percentage rent no later than December 15, 2016, with such calculation to be an amount mutually agreed upon by Seller and Buyer prior to ClosingLease.

Appears in 1 contract

Samples: Agreement of Lease (Varsitybooks Com Inc)

Rent. The parties shall Prorate all Rent actually received by Seller Tenant agrees to pay as rent for the Premises the total sum of $11.81 at the rate of $1.00 per month, plus the proated amount of $0.81 covering the period of July 1 to July 25,2022 should the term of the lease terminate on any other date other than the last day of the month, without demand, at 000 Xxxxxxx Xxxx, Columbus, Ohio 43214 or 0000 Xxxxxx Xxxx, Xxxxxx, Xxxx, 00000, or such other address as the Landlord may designate. Rent is due on or before the first day of each month (the Due Date). RENT UNPAID THREE (3) DAYS AFFER THE DUE DATE IS DELINQUENT AND WILL AUTHORIZE ALL REMEDIES IN THE LEASE. If all rent is not received on or before the third day of the month, the Tenant agrees to pay an initial late charge of 10% of one month's rent, plus a late charge of $10.00 per day after three (3) days, if rent remains unpaid. Tenant will pay an additional $30.00 charge for any check returned for insufficient funds. All funds received shall be applied to: dishonored check charges; late charges; damage charges; delinquent rent; and current rent, in that order. Rent must be paid online through your secured tenant portal. Cash, cashier's check, money order or personal and bussines checks shall not be accepted without the Landlord's prior written consent, which Closing occursconsent shall not be unreasonably withheld. At ClosingThe Tenant agrees further that acceptance and/or refusal by the Landlord of the rent payment after the due date shall in no manner constitute a waiver of the Landlord's rights in the event of the Tenant's failure to make rental payments as herein prescribed and agreed, nor shall it be considered as a change in the date upon which the Tenant is to pay said rent. Failure to demand the extent actually received rent when due shall not constitute a waiver by Seller the Landlord, and the necessity of demand for the rent by the Landlord when the rent is overdue, is hereby waived. On or prior to ClosingOctober 1st, Seller shall pay the Tenant, if he/she desires, is encouraged to Buyer any and all prepaid Rent relating or pertaining request in writing that the Landlord consider entering into a new lease with the Tenant to become effective following the Property. If Seller receives payment for Rent after Closing, Seller shall immediately pay to Buyer the portion of such payment which relates to the period on and after the Closing Lease Termination Date, and any portion of such payment which relates to the period prior to Closing which was credited to Seller at Closing. Annual Rent increases pursuant to the Leases are to be paid through the day preceding the Closing Date; provided, however, that if this transaction Closes, Buyer will receive a Rent credit at Closing equal to the annual Rent increases beginning November 1, 2016 through the day preceding the Closing Date, which the parties shall Prorate for the month in which Closing occurs. Any Capital Expenditures Obligation (as defined in the Leases) of Seller, as landlord, pursuant to the Leases with respect to an annual $350 per unit allowance toward payment or reimbursement of Capital Expenditures (as defined in the Leases) made by Tenant shall be paid by Seller through December 31, 2016, with any unused portion on any Property for the year 2016 to be applied as a credit to the Consideration allocated for that Property at Closing. If this transaction Closes, percentage rent under the Leases for the year 2016 (if any) shall accrue through October 31, 2016 and shall be paid to Seller at Closing; provided that Buyer shall provide to Seller all information and documents necessary to calculate any such percentage rent no later than December 15, 2016, with such calculation to be an amount mutually agreed upon by Seller and Buyer prior to Closing.

Appears in 1 contract

Samples: Lease Agreement

Rent. The parties shall Prorate all Rent actually received by Seller Resident, in return for the month use and occupancy of the Premises and in which Closing occurs. At Closingconsideration of the covenants and agreements contained herein, to the extent actually received by Seller prior to Closing, Seller shall pay the Landlord the sum of $ 5,460.00 (total amount due for Term) without offset or deduction. The first installment of rent in the amount of $_455.00 (monthly installment amount) shall be due no later than August 1st, 2016 and continuing on the first day of each month thereafter through July 31st, 2017, rent shall be paid, in advance, in monthly installments equal to Buyer any and all prepaid installment due on August 1st , 2016. Rent relating or pertaining to shall be paid at the rental office on the Property. In the event resident chooses to prepay, the Resident shall remain liable for any shortfall in the event that the prepaid rent shall be less than the actual rent (including additional rent hereunder) due and payable under this Lease with respect to the final period. In the event that the prepaid rent shall exceed the actual rent (including additional rent hereunder) due and payable under this Lease with respect to the final period, any such excess amounts shall be held by Landlord as an additional security deposit and shall be subject to all of the requirements set forth herein relating to security deposits. Rent is due in the rental office on the Property prior to the close of business on the first day of each month. If Seller receives the 1st of the month falls on a holiday observed by The Pointe at U of I the rent must be placed in the designated rent drop prior to the close of the first business day following the holiday. In the event the rent is not paid at the rental office on the Property prior to the close of business on the 1st of the month, Resident shall pay a late fee of 5% of the total monthly rental amount per month beginning on the 2nd day of the month and continuing until the Resident’s account is at $0 (zero) balance which shall be treated as additional rent. Such late charges are assessed as liquidated damages to Landlord for the additional expense of administering late rent payments, and not as a penalty. Checks tendered for rent shall be made payable to The Pointe at U of I. In the event Resident elects to pay the rent by check, Resident shall pay Landlord a fee of thirty- five dollars ($35) for any check which otherwise fails to clear issuer’s bank as liquidated damages for charges incurred by Landlord by reason of any check returned to Landlord for non-sufficient funds, and not as a penalty. Such returned check fee shall be due and payable immediately upon notification to Resident of such instance, and shall be in addition to any late charges resulting from the check's failure to clear. The returned check fee shall constitute additional rent hereunder. On the second occurrence of a returned check, payment for Rent after Closingthe late charges, Seller returned check fees, funds due from the returned check, as well as all subsequent rent and other amounts due hereunder shall be by money order, certified check or cashier’s check, as Landlord shall have the right and option of no longer accepting personal checks from the Resident. In addition, Landlordreserves the right at any time during the Term hereof to specify and demand a particular form of payment for all monies due, whether such form of payment by money order, certified check or cashier’s check, provided however, Landlord shall give Resident and Guarantor no less than fifteen (15) days advance notice of such election by Landlord. Landlord shall at all times have the right to refuse payment in the form of "cash" for monies due hereunder. Resident acknowledges that any rent received by Landlord will first be applied to any outstanding charges including, but not limited to, late charges, utility charges, cleaning service fees, returned check fees, and delinquent rent incurred by or on behalf of Resident prior to applying the same to the current monthly rent. If the payment tendered by Resident fails to cover the total charges outstanding, then Resident shall immediately pay the difference, plus any late charge incurred by virtue of Resident's failure to Buyer the portion of such payment which relates timely pay all sums due from Resident to the period on and after the Closing Date, and any portion of such payment which relates to the period prior to Closing which was credited to Seller at Closing. Annual Rent increases pursuant to the Leases are to be paid through the day preceding the Closing Date; provided, however, that if this transaction Closes, Buyer will receive a Rent credit at Closing equal to the annual Rent increases beginning November 1, 2016 through the day preceding the Closing Date, which the parties shall Prorate for the month in which Closing occurs. Any Capital Expenditures Obligation (as defined in the Leases) of Seller, as landlord, pursuant to the Leases with respect to an annual $350 per unit allowance toward payment or reimbursement of Capital Expenditures (as defined in the Leases) made by Tenant shall be paid by Seller through December 31, 2016, with any unused portion on any Property for the year 2016 to be applied as a credit to the Consideration allocated for that Property at Closing. If this transaction Closes, percentage rent under the Leases for the year 2016 (if any) shall accrue through October 31, 2016 and shall be paid to Seller at Closing; provided that Buyer shall provide to Seller all information and documents necessary to calculate any such percentage rent no later than December 15, 2016, with such calculation to be an amount mutually agreed upon by Seller and Buyer prior to ClosingLandlord.

Appears in 1 contract

Samples: Lease (

Rent. The parties shall Prorate all Rent actually received by Seller Lessee agrees to pay Lessor as rental for the month premises the following monthly sums: $ 3700.00 Office(s)#4 ($1050.00), #5 ($1050.00), #6 ($1600.00) $1300.00 Desk space(s) #29 (600), #30 ($700.00) $N/A Telephone Equipment and Service $ N/A Voicemail Box(es) $N/A Furniture Rental (See Page 2A) $5000.00 Total monthly rent In addition to the above rent, Lessee shall be obligated to pay rent for any space within the Suite which Lessee occupies but which is not included in the premises (the "unrented space") Lessee's obligation for said unrented space shall be at the rate set forth in Lessor's written notice to Lessee concerning Lessee's occupancy of the unrented space. Lessee's obligation to pay rent for the unrented space shall be effective as of the date in which Closing occursLessor gives Lessee written notice of the rent to be paid for said space, and occupancy of the unrented space shall be subject to all terms and conditions of this Lease. The terms and conditions of this Lease are confidential and Lessee agrees not to reveal said terms and conditions to ANY third parties. Lessee's disclosure of the terms and conditions of this Lease shall be cause for Lessor at Lessor's sole discretion to immediately terminate this Lease, or increase Lessee's rental rates to Lessor's current asking price. Rent shall be payable on or before the first day of each and every calendar month during the term hereof. If the term commences on a day other than the first day of the calendar month, rent shall be prorated based on the portion of the calendar month remaining. Lessee's first payment shall include one month's full rent, plus any partial calendar month's rent for the first month of the Lease, plus the lst month's rent. Plus the security deposit and set-up fee of $150.00. At Closingall times Lessee shall maintain the last month's rent with Lessor in an amount equal to one (1) times the monthly rent paid by lessee for the premises. In addition to payment of the rent set forth herein, Lessee agrees to the extent actually received following: from any payment made by Seller prior Lessee, Lessor shall first apply such sums as are necessary to Closingmeet any of Lessee's outstanding obligations to Lessor. Said obligations may arise from matters such as services Lessor provides Lessee. Any remaining balance shall then be applied to lessee's rent obligation in the amount set forth above. In the event such remaining balance is not sufficient to meet Lessee's rental obligation, Seller Lessee shall pay upon written demand by Lessor any remaining sums due. Failure to Buyer pay said sums when so demanded shall constitute an event of default under this Lease. Any and all sums Lessee is obligated to pay under the terms of this Lease shall be construed as rent obligations in addition to the monthly rent set forth herein. Such additional rent shall include a service charge of Fifty Dollars ($50.00) for each of Lessee's dishonored checks returned by the institution on which said checks are drawn. If at any time during the term of this Lease Lessee has tendered payment by check and lessee's bank returns more than one such payment for any reason including insufficient funds, Lessor may, at its option, require all future payments be by cashier's check. A Two Hundred dollar ($200.00) handling charge for each Three Day Notice of Notice of Termination of Services which Lessor is required to serve upon Lessee due to Lessee's failure to make timely rent payments or breach of any other term or condition of this Lease shall be assessed against Lessee to be paid with the monthly rent in the event more than one of either notice is served during the term of the lease. A Seven Hundred Fifty Dollar ($650.00) handling charge will be further assessed against Lessee in the event that Lessee does not render payment after service of a Three Day Notice and Lessor then serves Lessee with an Unlawful Detainer Action. Should Lessee not tender payment of the rent by the first (1st) business day of each month, a late charge shall be assessed in an amount of five cents ($0.05) for each dollar ($1.00) so overdue for the purpose of defraying the expense incident to handling such delinquent payment. In addition, Lessor may discontinue any and all prepaid Rent relating or pertaining service provided Lessee, including, but not limited to the Propertyuse of all common areas, e.g., library and conference room, telephone answering service, photocopying, word processing, fax and legal research. If Seller receives payment Should Lessor discontinue any service above for Rent after Closingnon-payment, Seller shall immediately pay an administrative fee of One Hundred Dollars ($100.00) will be assessed to Buyer the portion reinstate said services. Lessee hereby releases Lessor, its employees, agents, principals and contractors from any liability for damages which Lessee may suffer as a result of such payment which relates to the period on and after the Closing Date, and any portion Lessor's suspension of such payment which relates to the period prior to Closing which was credited to Seller at Closing. Annual Rent increases pursuant to the Leases are to be paid through the day preceding the Closing Date; provided, however, that if this transaction Closes, Buyer will receive a Rent credit at Closing equal to the annual Rent increases beginning November 1, 2016 through the day preceding the Closing Date, which the parties shall Prorate services for the month in which Closing occurs. Any Capital Expenditures Obligation (as defined in the Leases) of Seller, as landlord, pursuant to the Leases with respect to an annual $350 per unit allowance toward payment or reimbursement of Capital Expenditures (as defined in the Leases) made by Tenant shall be paid by Seller through December 31, 2016, with any unused portion on any Property for the year 2016 to be applied as a credit to the Consideration allocated for that Property at Closing. If this transaction Closes, percentage rent under the Leases for the year 2016 (if any) shall accrue through October 31, 2016 and shall be paid to Seller at Closing; provided that Buyer shall provide to Seller all information and documents necessary to calculate any such percentage rent no later than December 15, 2016, with such calculation to be an amount mutually agreed upon by Seller and Buyer prior to Closingreasons stated herein.

Appears in 1 contract

Samples: Lease (Dynamic Digital Depth Inc)

Rent. The parties Rents in arrears, prepaid rents and other charges in connection with the Company Restaurants or in respect of the Leases and the Assigned Contracts, including transferable equipment leases, agreements or contracts or permitted renewals or replacements thereof relating to the Company Restaurants. With respect to the Leases, RTM or a Buyer designated by RTM shall Prorate all Rent actually received by Seller pay RTM's or such Buyer's share of the percentage rent due under the terms of the Leases, determined as provided below. RTM's or such Buyer's share of the percentage rent for the month in which Closing occurs. At Closing, period of time commencing on the Effective Date to the extent actually received by Seller prior to Closingend of the then current lease year (or lease quarter, Seller shall pay to Buyer any if rent for a Lease is calculated and all prepaid Rent relating or pertaining to the Property. If Seller receives payment for Rent after Closing, Seller shall immediately pay to Buyer the portion of such payment which relates to the period paid on and after the Closing Date, and any portion of such payment which relates to the period prior to Closing which was credited to Seller at Closing. Annual Rent increases pursuant to the Leases are to be paid through the day preceding the Closing Date; provided, however, that if this transaction Closes, Buyer will receive a Rent credit at Closing equal to the annual Rent increases beginning November 1, 2016 through the day preceding the Closing Date, which the parties shall Prorate for the month in which Closing occurs. Any Capital Expenditures Obligation (as defined in the Leasesquarterly basis) of Seller, as landlord, pursuant to the Leases with respect to an annual $350 per unit allowance toward payment or reimbursement of Capital Expenditures (as defined in the Leases) made by Tenant under a Lease shall be paid calculated by multiplying the total percentage rents owed for such lease year (or lease quarter) based upon the gross sales generated by a Leased Restaurant by both Seller through December 31and RTM or such Buyer by a fraction, 2016, with any unused portion on any Property for the numerator of which shall be RTM's or such Buyer's gross sales from the Leased Restaurant during such lease year 2016 to (or lease quarter) and the denominator of which shall be applied as a credit to the Consideration allocated for that Property at Closingtotal gross sales of RTM or such Buyer and Seller from the Leased Restaurant during such lease year (or lease quarter). If this transaction Closes, Calculation of RTM's or such Buyer's share of the percentage rent under the Leases for the year 2016 (if any) shall accrue through October 31, 2016 and a Lease shall be paid made by RTM or such Buyer and communicated to Seller at Closing; provided promptly after the end of the lease year (or lease quarter) for a Lease and Seller or RTM or such Buyer, as the case may be, shall make the allocation payments due the other within ten (10) business days after such communication. In the event that Buyer shall provide to Seller all information and documents necessary to calculate make any one or more prorations is not available as of the Effective Date, no payment shall be made therefor at such percentage rent no later than December 15time but, 2016as soon as such information becomes available, with such calculation to the determination of the exact amount of proration shall be an amount mutually agreed upon made and appropriate payments promptly rendered by Seller and Buyer prior and/or RTM or such Buyer. To the extent any proration errors are discovered after the Effective Date, the parties agree to Closingpromptly make the appropriate payments necessary to correct such errors.

Appears in 1 contract

Samples: Asset Sale and Purchase Agreement (Shoneys Inc)

Rent. The parties On the date that Tenant executes this Lease, Tenant shall Prorate all deliver to Landlord the original executed Lease, one (1) month's Base Rent actually received by Seller and Operating Expenses (which shall be applied against the Rent payable for the first month Tenant is required to pay Rent), and all insurance certificates evidencing the insurance required to be obtained by Tenant under Section 12 of this Lease. Tenant agrees to pay Landlord, without prior notice or demand, or abatement, offset, deduction or claim, the Base Rent as and when specified in the Basic Lease Information payable in advance at Landlord's address specified in the Basic Lease Information on the first (1st) day of each month of the Term of the Lease. In addition to the Base Rent set forth in the Basic Lease Information, Tenant shall pay Landlord in advance on the Commencement Date and thereafter on the first (1st) day of each month throughout the balance of the Term of this Lease, as Additional Rent, Operating Expenses, Tax Expenses, and Utility Expenses. Tenant shall also pay to Landlord as Additional Rent hereunder, immediately on Landlord's demand therefor, any and all costs and expenses incurred by Landlord to enforce the provisions of this Lease, including, but not limited to, costs associated with the delivery of notices, delivery and recordation of notice(s) of default, attorneys' fees, expert fees, court costs and filing fees (collectively, the "Enforcement Expenses"). The term "Rent" whenever used herein refers to the aggregate of all these amounts. If Landlord permits Tenant to occupy the Premises without requiring Tenant to pay rental payments for a period of time, the waiver of the requirement to pay rental payments shall only apply to waiver of the Base Rent and Tenant shall otherwise perform all other obligations of Tenant required hereunder. The Rent for any fractional part of a calendar month shall be a prorated amount of the Rent for a full calendar month based upon a thirty (30) day month. The prorated Rent shall be paid on the Commencement Date (and applied to the Rent due and owing for the second month of the Term) and the first day of the calendar month in which Closing the date of termination occurs. At Closing, to the extent actually received by Seller prior to Closing, Seller shall pay to Buyer any and all prepaid Rent relating or pertaining to the Property. If Seller receives payment for Rent after Closing, Seller shall immediately pay to Buyer the portion of such payment which relates to the period on and after the Closing Date, and any portion of such payment which relates to the period prior to Closing which was credited to Seller at Closing. Annual Rent increases pursuant to the Leases are to be paid through the day preceding the Closing Date; provided, however, that if this transaction Closes, Buyer will receive a Rent credit at Closing equal to the annual Rent increases beginning November 1, 2016 through the day preceding the Closing Date, which the parties shall Prorate for the month in which Closing occurs. Any Capital Expenditures Obligation (as defined in the Leases) of Seller, as landlord, pursuant to the Leases with respect to an annual $350 per unit allowance toward payment or reimbursement of Capital Expenditures (as defined in the Leases) made by Tenant shall be paid by Seller through December 31, 2016, with any unused portion on any Property for the year 2016 to be applied as a credit to the Consideration allocated for that Property at Closing. If this transaction Closes, percentage rent under the Leases for the year 2016 (if any) shall accrue through October 31, 2016 and shall be paid to Seller at Closing; provided that Buyer shall provide to Seller all information and documents necessary to calculate any such percentage rent no later than December 15, 2016, with such calculation to be an amount mutually agreed upon by Seller and Buyer prior to Closingcase may be.

Appears in 1 contract

Samples: Lease Agreement (Jabil Circuit Inc)

Rent. Xxxxxx agrees to pay Landlord a rent of $ along with the monthly HVAC filter maintenance fee of $ 10.00, (refer to HVAC SYSTEM FILTER PROGRAM under "Tenant Obligations" section 12.) for a total rent amount due of $0 per month, payable in advance, on or before the first day of every month during said term. The parties shall Prorate all rent is payable to: CHARLESTON RENTAL PROPERTIES or as Tenant may be advised from time to time in writing. Rent actually is considered late on the 4th day of the month. There will be a $10/per month charge included in the above rent rate for quarterly HVAC filter delivery to the property. It is a tenant obligation to install the new filter upon receipt. NOTICE TO TENANT: IF TENANT DOES NOT PAY RENT WITHIN FIVE DAYS OF THE DUE DATE, LANDLORD CAN START TO HAVE TENANT EVICTED AND MAY TERMINATE THE RENTAL AGREEMENT, AS THIS CONSTITUTES WRITTEN NOTICE IN CONSPICUOUS LANGUAGE IN THIS WRITTEN AGREEMENT OF LANDLORD'S INTENTION TO TERMINATE AND PROCEED WITH EVICTION. TENANT WILL RECEIVE NO OTHER WRITTEN NOTICE AS LONG AS TENANT REMAINS IN THIS RENTAL UNIT. Xxxxxx further agrees to pay a late fee of 10% of the monthly rent if rent is not received by Seller for the 3rd day of the month, and an additional fee of $100 on the 8th day of the month. LATE FEES WILL BE AUTOMATICALLY POSTED ON THE 4TH DAY OF THE MONTH REGARDLESS OF WHAT DAY OF THE WEEK THAT FALLS. OUTSTANDING LATE FEES WILL AUTOMATICALLY BECOME THE MOST AGED RECEIVABLE AND THEREFORE BE PAID FIRST BY XXXXXX RECEIVED BY THE TENANT. THIS COULD LEAVE YOUR RENT PAYMENT SHORT AND CAUSE MORE LATE FEES. Where the term of the Rental Agreement commences on a day other than the first day of the month or terminates on a day other than the last day of the month, Tenant shall pay rent unto the Landlord in which Closing occurs. At Closingthe amount of $ per day for each day of the month of commencement or termination of the Rental Agreement, payable prior to the extent actually received by Seller prior to Closing, Seller shall pay to Buyer any and all prepaid Rent relating or pertaining to Tenant taking possession upon commencement of the Property. If Seller receives payment for Rent after Closing, Seller shall immediately pay to Buyer the portion of such payment which relates to the period on and after the Closing DateRental Agreement, and any portion payable on the first day of such payment which relates the final month of the Rental Agreement upon termination. CLEANING FEES DUE AT LEASE SIGINING: - NONREFUNDABLE PROFESSIONAL HOUSEKEEPER MOVE-OUT CLEANING FEE OF $ - NONREFUNDABLE PROFESSIONAL CARPET CLEANING FEE OF $ These amounts are based on stardard professional move-out cleanings. If, at LANDLORD'S discrection, additional cleaning treatments or replacement of soiled finishes is required, there will be additional charges to the period prior to Closing which was credited to Seller at Closing. Annual Rent increases pursuant to the Leases are to be paid through the day preceding the Closing Date; provided, however, that if this transaction Closes, Buyer will receive a Rent credit at Closing equal to the annual Rent increases beginning November 1, 2016 through the day preceding the Closing Date, which the parties shall Prorate for the month in which Closing occurs. Any Capital Expenditures Obligation (as defined in the Leases) of Seller, as landlord, pursuant to the Leases with respect to an annual $350 per unit allowance toward payment or reimbursement of Capital Expenditures (as defined in the Leases) made by Tenant shall be paid by Seller through December 31, 2016, with any unused portion on any Property for the year 2016 to be applied as a credit to the Consideration allocated for that Property at Closing. If this transaction Closes, percentage rent under the Leases for the year 2016 (if any) shall accrue through October 31, 2016 and shall be paid to Seller at Closing; provided that Buyer shall provide to Seller all information and documents necessary to calculate any such percentage rent no later than December 15, 2016, with such calculation to be an amount mutually agreed upon by Seller and Buyer prior to ClosingTENANT.

Appears in 1 contract

Samples: charlestonrentalproperties.com

Rent. The parties For purposes of this Lease, each successive period of twelve (12) months during the Lease Term commencing on the Commencement Date shall Prorate all be a “Lease Year”. As consideration of and for this Lease and the Premises, commencing on the Rent actually received by Seller for the month in which Closing occurs. At ClosingCommencement Date, to the extent actually received by Seller prior to Closing, Seller Tenant shall pay to Buyer any and all prepaid Rent relating or pertaining Landlord an initial net annual rental equal to the Property. If Seller receives payment for Rent after Closing, Seller shall immediately pay to Buyer the portion sum of such payment which relates to the period on and after the Closing Date$15.00 per square foot with respect to___5429___ square feet of Tenant’s Premises located at Suite # 4100, and any portion $5.00 per square foot with respect to___101___square feet of Tenant’s Premises for storage located in the basement of the Building as reflected on Exhibit A (collectively, the “Rent”). Rent will be adjusted on the first day of the third Lease Year and on the first day of each Lease Year thereafter (each such payment date an “Adjustment Date”) to reflect the increase, if any, in the cost of living from the month and year in which relates to the period prior to Closing which was credited to Seller at Closing. Annual Rent increases pursuant to the Leases are to be paid through the day preceding the Closing DateCommencement Date occurs; provided, however, that if Rent for any Lease Year shall not increase by more than 2% over the Rent in effect for the immediately preceding Lease Year. In no event shall the annual rent due after the Adjustment Date ever be a sum which is less than the annual rent due before the Adjustment Date. The annual rent due as a result of an increase in the cost of living shall be calculated in accordance with the calculation set forth in this transaction ClosesSection 3.01. The basis for computing the cost of living shall be the unadjusted Consumer Price Index for all Urban Consumers, Buyer will receive a All Items (1982-84 = 100) published by the Bureau of Labor Statistics of the United States Department of Labor (“Index”). The Index for the month and year in which the Commencement Date occurs shall be the “Base Index Number”. The Index for the month immediately preceding the Adjustment Date shall be the “Current Index Number”. The annual Rent credit at Closing for each Lease Year commencing with the third Lease Year shall be the greater of (i) the annual Rent then in effect immediately prior to the Adjustment Date, and (ii) the product obtained from multiplying the amount of annual rent in effect prior to the applicable Adjustment Date by the fraction whose numerator is equal to the annual Current Index Number and whose denominator is equal to the Base Index Number. Adjusted Annual Rent increases beginning November 1= Annual Rent Prior to Adjustment Date x Current Index Number Base Index Number If the aforesaid Index is not in existence at the time the determination is to be made, 2016 through the day preceding the Closing Date, which the parties shall Prorate for use such equivalent price index as is published by a successor government agency in lieu of the month in which Closing occurs. Any Capital Expenditures Obligation (Index; or if no such price index is published, then the parties shall use a mutually acceptable equivalent price index as defined in the Leases) of Seller, as landlord, pursuant to the Leases with respect to an annual $350 per unit allowance toward payment or reimbursement of Capital Expenditures (as defined in the Leases) made is published by Tenant shall be paid by Seller through December 31, 2016, with any unused portion on any Property for the year 2016 to be applied as a credit to the Consideration allocated for that Property at Closing. If this transaction Closes, percentage rent under the Leases for the year 2016 (if any) shall accrue through October 31, 2016 and shall be paid to Seller at Closing; provided that Buyer shall provide to Seller all information and documents necessary to calculate any such percentage rent no later than December 15, 2016, with such calculation to be an amount mutually agreed upon by Seller and Buyer prior to Closingnon-governmental agency.

Appears in 1 contract

Samples: Lease Agreement (Eurand N.V.)

Rent. The (a) Tenant shall pay as "Base Rent" for each of the first two (2) Lease Years during the Initial Term of this Lease the sum of Seventy-Two Thousand and No/100 Dollars ($72,000.00), payable in advance, in equal monthly installments of Six Thousand and No/100 Dollars ($6,000.00). Commencing with the third Lease Year and continuing with each Lease Year thereafter through the remainder of the Initial Term and each Lease Year other than the first Lease Year of each Renewal Term of the Lease, Base Rent shall be adjusted each year upwards but not downwards in accordance with the Consumer Price Index as more specifically set forth below: Base rent shall be adjusted at the end of the second Lease Year of the Initial Term of this Lease and annually thereafter by a percentage equal to the percentage increase (but not decrease) in the Consumer Price Index for All Urban Consumers, U.S. City Average, All Items (1982-84=100) published by the Bureau of Labor Statistics of the United States Department of Labor in effect on such date over the base Consumer Price Index in effect on the Commencement Date of this Lease. If during the Term of this Lease the Bureau of Labor Statistics, United States Department of Labor ceases to maintain said Consumer Price Index, such other index or standard as will most nearly accomplish the aim and purpose of the Consumer Price Index and the use thereof by the parties hereto shall Prorate all be used in determining the amount of any such adjustment. Said adjustment procedure shall also apply to the second and each successive Lease Year of any Renewal Term. If Tenant exercises its option(s) to extend the Term, Tenant shall pay as Base Rent actually received by Seller during the first Lease Year of the Renewal Term(s) a rental based upon the "market rate" for the Premises. The first and last monthly installments are due and payable on the execution of this Lease and the remaining installments are due and payable in advance on the first day of each and every month in which Closing occurs. At Closingduring the Term, without offset or deduction, to Landlord at the extent actually received by Seller prior to Closing, Seller shall pay to Buyer any and all prepaid address set forth in Paragraph 26 or at such other place as Landlord may hereafter designate in writing. Rent relating or pertaining to the Property. If Seller receives payment for Rent after Closing, Seller shall immediately pay to Buyer the portion of such payment which relates to the period on and after the Closing Date, and any portion of such payment which relates to the period prior to Closing which was credited to Seller at Closing. Annual Rent increases pursuant to the Leases checks are to be paid through the day preceding the Closing Date; providedmade payable to Landlord, howeveror such other person, that if this transaction Closes, Buyer will receive a Rent credit at Closing equal to the annual Rent increases beginning November 1, 2016 through the day preceding the Closing Date, which the parties shall Prorate for the month firm or corporation as Landlord may designate in which Closing occurs. Any Capital Expenditures Obligation (as defined in the Leases) of Seller, as landlord, pursuant to the Leases with respect to an annual $350 per unit allowance toward payment or reimbursement of Capital Expenditures (as defined in the Leases) made by Tenant shall be paid by Seller through December 31, 2016, with any unused portion on any Property for the year 2016 to be applied as a credit to the Consideration allocated for that Property at Closing. If this transaction Closes, percentage rent under the Leases for the year 2016 (if any) shall accrue through October 31, 2016 and shall be paid to Seller at Closing; provided that Buyer shall provide to Seller all information and documents necessary to calculate any such percentage rent no later than December 15, 2016, with such calculation to be an amount mutually agreed upon by Seller and Buyer prior to Closingwriting.

Appears in 1 contract

Samples: Lease (MPW Industrial Services Group Inc)

Rent. The parties As used herein, the term "Rent" shall Prorate all mean Base Rent actually received by Seller for the month in which Closing occurs(as hereinafter defined) plus Additional Rent (as hereinafter defined). At Closing, to the extent actually received by Seller prior to Closing, Seller Tenant shall pay to Buyer any Landlord Rent, on or before the first day of each calendar month during the Term (except that the first forty-five (45) days of the Term shall be Rent-free pursuant hereto), without previous demand or notice therefor by Landlord and all prepaid Rent relating without set off or pertaining to the Property. If Seller receives payment for Rent after Closing, Seller shall immediately pay to Buyer the portion of such payment which relates to the period on and after the Closing Date, and any portion of such payment which relates to the period prior to Closing which was credited to Seller at Closing. Annual Rent increases pursuant to the Leases are to be paid through the day preceding the Closing Datededuction; provided, however, that if this transaction Closesthe Term commences on a day other than the first day of a calendar month, Buyer will receive a then Rent credit at Closing equal to for such month shall be prorated for the annual Rent increases beginning November 1, 2016 through period between the Commencement Date and the last day preceding the Closing Date, which the parties shall Prorate for of the month in which Closing occursthe Commencement Date falls. Any Capital Expenditures Obligation Notwithstanding anything contained herein to the contrary, Tenant's obligation to pay Rent under this Lease is completely separate and independent from any of Landlord's obligations under this Lease. For each monthly Rent payment Landlord receives after the fifth (as defined 5th) day of the month, Landlord shall be entitled to all remedies provided under Sections 13 and 14 below, and a late charge in the Leasesamount of five percent (5%) of Sellerall Rent due for such month. If Landlord presents Tenant's check to any bank and Tenant has insufficient funds to pay for such check, as landlord, pursuant to the Leases with respect to an annual $350 per unit allowance toward payment or reimbursement of Capital Expenditures (as defined in the Leases) made by Tenant then Landlord shall be paid by Seller through December 31entitled to all remedies provided under Sections 13 and 14 below and a lawful bad check fee or five percent (5%) of the amount of such check, 2016whichever amount is less. Landlord agrees to accept regular monthly Rent payments using Automated Clearing House (ACH) and agrees to execute paperwork as necessary to allow such payment process. Provided, with however, Landlord shall not be entitled to call a default under Sections 13 or 14 below, and same shall not be deemed a default, upon the initial failure, during any unused portion on any Property for the year 2016 lease year, of Tenant to be applied pay Rent as a credit herein provided, until and unless Landlord gives to the Consideration allocated for that Property at ClosingTenant written notice of such failure and Tenant has not, within five (5) days of receipt (or deemed receipt) of such notice, cured such failure to pay. If this transaction Closes, percentage rent under the Leases for the year 2016 (if any) shall accrue through October 31, 2016 and Landlord shall be paid required to Seller at Closing; provided that Buyer shall provide to Seller all information and documents necessary to calculate give only two (2) such notices during any such percentage rent no later than December 15, 2016, with such calculation to be an amount mutually agreed upon by Seller and Buyer prior to Closinglease year.

Appears in 1 contract

Samples: Metavante Corp

Rent. The parties shall Prorate all During the Term, Xxxxxx will pay to Landlord the Rent actually received by Seller and Additional Charges in lawful money of the United States of America and legal tender for the payment of public and private debts, in the manner provided in Section 3.3. The Base Rent during any Lease Year is payable in advance in consecutive monthly installments on the fifth (5th) Business Day of each calendar month during that Lease Year and the Percentage Rent during any Lease Year is payable in which Closing occurs. At Closingadvance in consecutive monthly installments on the fifth (5th) Business Day of each calendar month during that Lease Year; provided that during the first three (3) months of each Percentage Rent Reset Year the amount of the Percentage Rent payable monthly in advance shall remain the same as in the then preceding Lease Year, and provided, further, that Tenant shall make a payment to Landlord (or be entitled to set off against its Rent payment due) on the extent actually received by Seller prior to Closing, Seller shall pay to Buyer any and all prepaid Rent relating or pertaining to fifth (5th) Business Day of the Property. If Seller receives payment for Rent after Closing, Seller shall immediately pay to Buyer the portion fourth (4th) calendar month of such payment which relates Lease Year in the amount necessary to the period on and after the Closing Date, and “true-up” any portion of Percentage Rent payments not yet (or overpayments having been) made for such payment which relates to the period prior to Closing which was credited to Seller at Closing. Annual Rent increases pursuant to the Leases are to be paid through the day preceding the Closing Datethree (3) month period; provided, howeverfurther, that if this transaction Closes, Buyer will receive Tenant shall be entitled to set off against a Rent credit at Closing equal payment due hereunder any rent payments made by Xxxxxx’s Parent or one of its Subsidiaries to third-party lessors (and not previously set off) under leases (or subleases) existing on the annual Rent increases beginning November 1, 2016 through the day preceding the Closing Commencement Date, which leases (or subleases) are related to any Facility subject to this Master Lease or provide access or other similar rights to such Facility, if such lease (or sublease) has not been transferred to Landlord either (i) solely because the parties shall Prorate for requisite consents to transfer have not been obtained or (ii) because the month in which Closing occurs. Any Capital Expenditures Obligation (as defined in rent payable under such lease is satisfied through the Leases) payment of Sellerlocal development taxes, as landlord, pursuant to the Leases with respect to an annual $350 per unit allowance toward payment fees or reimbursement of Capital Expenditures (as defined in the Leases) made other amounts paid by Tenant (provided that, in each case, Tenant shall certify to Landlord in writing on a periodic basis as reasonably requested by Landlord the applicable lease (or sublease) and third-party lessor and include reasonable detail regarding the amounts paid thereunder). Unless otherwise agreed by the parties, Rent and Additional Charges shall be paid by Seller through December 31prorated as to any partial months at the beginning and end of the Term. The parties will agree on an allocation of the Base Rent on a declining basis for federal income tax purposes within the 115/85 safe harbor of Section 467 of the Code, 2016, with any unused portion on any Property assuming a projected schedule of Base Rent for the year 2016 to be applied as a credit to the Consideration allocated for that Property at Closing. If this transaction Closes, percentage rent under the Leases for the year 2016 (if any) shall accrue through October 31, 2016 and shall be paid to Seller at Closing; provided that Buyer shall provide to Seller all information and documents necessary to calculate any such percentage rent no later than December 15, 2016, with such calculation to be an amount mutually agreed upon by Seller and Buyer prior to Closingpurpose.

Appears in 1 contract

Samples: Master Lease (PENN Entertainment, Inc.)

Rent. The parties shall Prorate all Rent actually received by Seller for the month in which Closing occurs. At Closing, to the extent actually received by Seller prior to Closing, Seller Subtenant shall pay to Buyer any and all prepaid Manor Care under the Master Lease for the ----- Demised Premises an amount equal to 1/12th of the Annual Base Rent relating (as hereinafter defined) in advance, without demand, deduction, counterclaim or pertaining to the Property. If Seller receives payment for Rent after Closing, Seller shall immediately pay to Buyer the portion of such payment which relates to the period on and after the Closing Dateoffset, and without relief from valuation and appraisement laws or any portion other deduction for any reason whatsoever, on or before the first day of such payment which relates to each and every calendar month during the period prior to Closing which was credited to Seller at Closing. Annual Rent increases pursuant to the Leases are to be paid through the day preceding the Closing Dateterms of this Sublease; provided, however, that if the Commencement Date shall be on a day other than the first day of the calendar month or the expiration date shall be a day other than the last day of the calendar month, the monthly rental installment for such first or last fractional month shall be prorated on the basis of the number of days during the month this transaction Closes, Buyer will receive a Rent credit at Closing equal Sublease was in effect in relation to the total number of days in such month. Annual Base Rent for each Lease Year shall be calculated in accordance with the following formula: Annual Base Rent = (Sublessor and Manor Care Occupancy Percentage) x (Operating Expenses-Third Party Rental Income) Capitalized terms shall have the meanings given to them in the Master Lease. At Manor Care's sole discretion, at any time and from time to time during the term of this Sublease upon written notice to Subtenant, Manor Care may elect that instead of using the aforesaid formula to calculate Annual Base Rent, Annual Base Rent shall be the number of square feet of space in the Demised Premises times the "Alternate Rent" as hereinafter defined. The Alternate Rent shall be the annual Rent increases beginning November 1fair market rental value per square foot for the premises in their "as is" condition for the remaining Lease Term, 2016 through as reasonably determined by lessor based on quoted rental rates at comparable office buildings in the day preceding the Closing DateSilver Spring, which Maryland area. Should Manor Care so elect, the parties will enter into an amendment to this Sublease establishing the new Annual Base Rent and providing that Subtenant shall Prorate for pay its pro rata share (based on the month ratio of the number of square feet in which Closing occurs. Any Capital Expenditures Obligation the Demised Premises to the number of square feet in the Property) of increases in real estate taxes and operating expenses over a base year, with the terms "real estate taxes", "operating expenses," and "base year" being defined consistent with the definitions of such terms in leases of space in the Complex (as defined in the LeasesMaster Lease) of Seller, as landlord, pursuant to tenants unrelated to the Leases with respect to an annual $350 per unit allowance toward payment or reimbursement of Capital Expenditures (as defined in the Leases) made by Tenant shall be paid by Seller through December 31, 2016, with any unused portion on any Property for the year 2016 to be applied as a credit to the Consideration allocated for that Property at Closing. If this transaction Closes, percentage rent under the Leases for the year 2016 (if any) shall accrue through October 31, 2016 and shall be paid to Seller at Closing; provided that Buyer shall provide to Seller all information and documents necessary to calculate any such percentage rent no later than December 15, 2016, with such calculation to be an amount mutually agreed upon by Seller and Buyer prior to ClosingManor Care.

Appears in 1 contract

Samples: Choice Hotels Franchising Inc

Rent. The parties Beginning on the Commencement Date, Tenant covenants and agrees to pay, without abatement, deduction or offset except as otherwise specifically provided herein, to Landlord, “Base Rent” for the Premises, on or before the first (1st) day of the first (1st) full calendar month of the Term hereof and on or before the first (1st) day of each and every successive calendar month thereafter during the full Term of this Lease and any renewal thereof, subject to the adjustments as provided hereinafter along with any applicable tax as defined herein, at the then current rate. Notwithstanding the foregoing or anything else to the contrary set forth in this Section 4, Base Rent shall Prorate all be abated for the months of October 2016, October 2017, October 2018, October 2019, October 2020, October 2021, October 2022, and October 2023 (the “Base Rent actually received Abatement”). Notwithstanding the foregoing, Landlord, at its option, exercisable no later than thirty (30) days prior to the Commencement Date, may elect that the Base Rent Abatement shall instead be for the first eight (8) months of the Term, commencing on the Commencement Date (i.e., from October 1, 2016 through May 31, 2017). If Tenant fails to pay any regular monthly installment of Base Rent or any other monthly amounts by Seller for the seventh (7th) day of the month in which Closing occurs. At Closing, such installment is due (provided that Landlord will be required to the extent actually received by Seller prior give Tenant written notice of Tenant’s failure to Closing, Seller shall pay to Buyer any and all prepaid Rent relating or pertaining to the Property. If Seller receives payment for Rent after Closing, Seller shall immediately pay to Buyer the portion of such payment which relates to the period on and after the Closing Date, and monthly payments two (2) times in any portion of such payment which relates to the twelve (12) month period prior to Closing which was credited such late fees being charged), or if Tenant fails to Seller at Closing. Annual pay any other sum of money within thirty (30) days after written notice by Landlord to Tenant, or if any check delivered for the payment of Rent increases pursuant is returned for insufficient funds, there will be added to the Leases are unpaid amount a late charge based on the monthly prorata percentage of the Default Rate and applied to the amount due to compensate Landlord for the extra administrative expenses incurred. Notwithstanding anything to the contrary above, Landlord agrees that it will not impose the aforesaid late charges unless Tenant has failed to pay any installment of Rent on the due date thereof (and such failure shall not have been cured on or before the last day of any grace period, if any) two (2) times in any twelve (12) month period. The Base Rent payable by Tenant to Landlord for the first (1st) Lease Year shall be $1,020,555.00, plus sales tax, based on a rate of $17.00 per square foot of Rentable Area of the Premises per annum, plus sales tax, with a monthly payment of $85,021.25, plus sales tax. The Base Rent (without regard to the Base Rent Abatement as set forth above) shall be adjusted at the beginning of the second (2nd) Lease Year by multiplying the Base Rent then being paid by a fraction, the numerator of which shall be the Consumer Price Index - U.S. City average for urban wage earners and clerical workers all items (1982-84 equals 100) (“CPI”) for the third (3rd) month preceding the month of adjustment, and the denominator of which shall be the CPI for the third (3rd) month preceding the Commencement Date. Thereafter, the Base Rent shall be adjusted at the beginning of each succeeding Lease Year during the Term of this Lease (without regard to the Base Rent Abatement if applicable as set forth above) (and not to include the Renewal Periods, as hereinafter defined, if applicable) by multiplying the Base Rent then being paid by a fraction, the numerator of which shall be the CPI for the third (3rd) month preceding the month of adjustment, and the denominator of which shall be the CPI for the fifteenth (15th) month preceding the month of adjustment. Anything herein to the contrary notwithstanding, in no event shall Base Rent in any Lease Year be less than the Base Rent paid for the immediately prior Lease Year. Should the CPI become unavailable, a reasonable substitute prepared by the U.S. Department of Labor or other source, as reasonably acceptable to Landlord and Tenant, shall be used. Base Rent shall continue to be paid through payable in monthly installments as otherwise described above until Landlord notifies Tenant of the day preceding new monthly Base Rent installment amount. Landlord shall attempt to so notify Tenant prior to the Closing Datecommencement of each new Lease Year. However, failure of Landlord to timely notify Tenant of the new monthly Base Rent installment amount shall not be deemed a waiver by Landlord of the increased rental; the new monthly amount (or any portion not previously paid) shall be payable, retroactive to the commencement of the new Lease Year, upon notification by Landlord to Tenant of the new monthly Base Rent installment amount; provided, however, that if this transaction ClosesLandlord fails to so notify Tenant within nine (9) months after the date of adjustment, Buyer will receive a Rent credit at Closing equal then the CPI adjustment for that year shall be deemed to the annual be waived. In no event shall Base Rent increases beginning November 1, 2016 through exceed two and seventy-five hundredths (2.75%) percent of the day preceding the Closing Date, which the parties shall Prorate Base Rent paid for the month in which Closing occurs. Any Capital Expenditures Obligation (as defined in the Leases) of Sellerimmediately prior Lease Year, as landlord, pursuant to the Leases with respect to an annual $350 per unit allowance toward payment or reimbursement of Capital Expenditures (as defined in the Leases) made by Tenant shall be paid by Seller through December 31, 2016, with any unused portion on any Property for the year 2016 to be applied as a credit to the Consideration allocated for that Property at Closing. If this transaction Closes, percentage rent under the Leases for the year 2016 (if any) shall accrue through October 31, 2016 and shall be paid to Seller at Closing; provided that Buyer shall provide to Seller all information and documents necessary to calculate any such percentage rent no later than December 15, 2016, with such calculation to be an amount mutually agreed upon by Seller and Buyer prior to Closingnon-cumulative basis.

Appears in 1 contract

Samples: Lease (Interval Leisure Group, Inc.)

Rent. The parties amount of rent Tenant agrees to pay is $ , per month. Prorated this month at $ . Full monthly rent is due on the first day of each month thereafter. If rent is not paid on or before the 5th day of the month, a fee of $5.00 per day late charge assessed and due beginning the 6th day of the month, and each day thereafter. Administration Fee is $355.00 non-refundable. Deposit is in the amount of $ and is refundable if unit is left clean and in showable condition. Pet deposits are not refundable. This Lease does not include utilities other than water, sewer and garbage. The Landlord hereby reserves the right to raise the rent immediately to cover any increases in actual costs in insurance, tax rates, and/or utilities, upon showing Tenant the increased costs. Tenant may not terminate the Rental Agreement for any rent changes as set forth above. TERM – This rental Agreement is for month-to-month or One-year (circle one) tenancy. If a one-year term, after the anniversary date, the Tenant shall Prorate all Rent actually received be on a month-to-month basis thereafter unless or until another rental Agreement is entered into. Tenant agrees to notice Landlord with at least 30 days written notice of their intent to leave or move their mobile home from the Park, if notice is not given Tenant is obligated for an additional month’s rent. The Tenant agrees that the only pet(s), Tenant has residing with them is Named , which will be accepted by Seller the Landlord, subject to the Rules and Regulations’ of this Park and Show Low City Code. Non-Refundable Pet Deposit is $ . THE PARK MANAGER – Xxxxxxx Xxxxx - She (They) is (are) authorized to manage Park/Tenant issues including collection of rents, repairs, maintenance, contractors, utilities, and park services, The Tenant will be notified of any changes of managers/agents at the time such change occurs. CABLE BOX: A cable box will be issued to you. The cost of this box is $100.00. If at the end of your tenancy or you have damaged it in any way you will be responsible for the month in which Closing occurs$100.00 and it must be paid within 10 days from being damaged. At ClosingIf a notice of termination of tenancy has been given the $100.00 is due immediately. Cable Box Number: MONTHLY RENTAL AGREEMENT – CAMPTOWN OF SHOW LOW, to LLC RULES and REGULATIONS – Incorporated into this Rental Agreement are the extent actually received by Seller prior to ClosingCamptown of Show Low, Seller shall pay to Buyer any LLC Mobile Home Park Rules and Regulations and all prepaid Rent relating or pertaining amendments’ that may be made thereto. The Rules and Regulations are part of this Rental Agreement and the parties agree to the Propertyabide by same. If Seller receives payment for Rent after ClosingThe Rules and Regulations may be amended, Seller and all amendments shall immediately pay to Buyer the portion of such payment which relates to the period on and be in effect upon a 30 days’ notice after the Closing Daterevised Rules and Regulations are provided to Tenant. The current Rules and Regulations are dated November 2017. The Tenant, by its’ signature below, hereby agrees to and any portion acknowledges receipt of, the following copies Camptown of such payment which relates to Show Low, LLC Mobile Home Park Rules and Regulations, Crime Free Lease Addendum and Arizona Landlord/Tenant Act by Landlord. Additional copies of these are available from the period prior to Closing which was credited to Seller at ClosingPark Manager upon request. Annual Rent increases pursuant to the Leases are to be paid through the day preceding the Closing Date; provided, however, that if this transaction Closes, Buyer Once Agreement is fully executed Tenant will receive a Rent credit copy by certified mail at Closing equal their leased space. ATTORNEYS FEES – Should either party bring a legal action to enforce any terms of this Agreement, the annual Rent increases beginning November 1, 2016 through the day preceding the Closing Date, which the parties shall Prorate for the month in which Closing occurs. Any Capital Expenditures Obligation (as defined in the Leases) of Seller, as landlord, pursuant to the Leases with respect to an annual $350 per unit allowance toward payment or reimbursement of Capital Expenditures (as defined in the Leases) made by Tenant prevailing party shall be paid by Seller through December 31, 2016, with entitled to its attorney’s fees and costs. If any unused portion on any Property for the year 2016 part of this agreement is found to be applied as a credit to unenforceable for any reason, the Consideration allocated for that Property at Closing. If this transaction Closes, percentage rent under remainder of the Leases for provision and of the year 2016 (if any) shall accrue through October 31, 2016 entire agreement will be severable and shall be paid to Seller at Closing; provided that Buyer shall provide to Seller all information and documents necessary to calculate any such percentage rent no later than December 15, 2016, with such calculation to be an amount mutually agreed upon by Seller and Buyer prior to Closingremain in effect.

Appears in 1 contract

Samples: Monthly Rental Agreement

Rent. The parties On the date that Lessee executes this Lease, Lessee shall Prorate deliver to Lessor the original executed Lease, the Security Deposit, and all insurance certificates evidencing the insurance required to be obtained by Lessee under Paragraph 12 of this Lease. Lessee agrees to pay Lessor, without prior notice or demand, or abatement, offset, deduction or claim, except as otherwise provided herein, the Base Rent actually received by Seller for described on Page 1, payable in advance at Lessor's address shown on Page 1 on the first day of each month in which Closing occursthroughout the term of the Lease. At Closing, In addition to the extent actually received by Seller prior to ClosingBase Rent set forth on Page 1, Seller Lessee shall pay Lessor in advance and on the first (1st) day of each month throughout the term of this Lease (including any extensions of such term), as additional rent Lessee's share, as set forth on Page 1, of Operating Expenses, Tax Expenses, Common Area Utility Costs, administrative expenses and Utility Expenses, as specified in Paragraphs 6.A., 6.B., 6.C. and 7 of this Lease, respectively. Additionally, Lessee shall pay to Buyer Lessor as additional rent hereunder, within thirty (30) days after Lessor's written demand therefore (which demand may be made by delivery of a xxxx or statement to Lessee), any and all prepaid Rent relating out-of-pocket costs and expenses incurred by Lessor to enforce the provisions of this Lease, including, but not limited to, costs associated with any proposed assignment or pertaining subletting of all or any portion of the Premises by Lessee, costs associated with the delivery of notices, delivery and recordation of notice(s) of default, reasonable attorneys' fees, expert fees, court costs and filing fees (collectively, the "Enforcement Expenses"). The term "Rent" whenever used herein refers to the Propertyaggregate of the Base Rent, Lessee's share of Operating Expenses, Tax Expenses, Insurance Expenses, Administrative Expenses and Utility Expenses, Enforcement Expenses and all other amounts described herein as "additional rent.". If Seller receives payment Lessor permits Lessee to occupy the Premises without requiring Lessee to pay rental payments for a period of time, the waiver of the requirement to pay rental payments shall only apply to waiver of the Base Rent after Closingand Lessee shall otherwise perform all other obligations of Lessee hereunder, Seller including, but not limited to paying to Lessor any and all amounts considered additional rent, such as Lessee's share of Operating Expenses, Tax Expenses, Common Area Utility Costs, Utility Expenses, and administrative expenses. If, at any time, Lessee is in default of or otherwise breaches any term, condition or provision of this Lease, any such waiver by Lessor of Lessee's requirement to pay rental payments shall be null and void and Lessee shall immediately pay to Buyer Lessor all rental payments waived by Lessor. The Rent for any fractional part of a calendar month at the portion commencement or termination of such payment which relates to the period on and after Lease Term shall be a prorated amount of the Closing Date, and any portion of such payment which relates to Rent for a full calendar month based upon the period prior to Closing which was credited to Seller at Closingactual days in the month. Annual The prorated Rent increases pursuant to the Leases are to shall be paid through on the Commencement Date and the first day preceding of the Closing Date; provided, however, that if this transaction Closes, Buyer will receive a Rent credit at Closing equal to the annual Rent increases beginning November 1, 2016 through the day preceding the Closing Date, which the parties shall Prorate for the calendar month in which Closing the date of termination occurs. Any Capital Expenditures Obligation (as defined in the Leases) of Seller, as landlord, pursuant to the Leases with respect to an annual $350 per unit allowance toward payment or reimbursement of Capital Expenditures (as defined in the Leases) made by Tenant shall be paid by Seller through December 31, 2016, with any unused portion on any Property for the year 2016 to be applied as a credit to the Consideration allocated for that Property at Closing. If this transaction Closes, percentage rent under the Leases for the year 2016 (if any) shall accrue through October 31, 2016 and shall be paid to Seller at Closing; provided that Buyer shall provide to Seller all information and documents necessary to calculate any such percentage rent no later than December 15, 2016, with such calculation to be an amount mutually agreed upon by Seller and Buyer prior to Closingcase may be.

Appears in 1 contract

Samples: Lease Agreement (Burke Industries Inc /Ca/)

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Rent. The parties (a) Tenant shall Prorate all Rent actually received by Seller for the month in which Closing occurs. At Closing, to the extent actually received by Seller prior to Closing, Seller shall timely pay to Buyer any and all prepaid Landlord Rent relating or pertaining to the Property. If Seller receives payment for Rent after Closing, Seller shall immediately pay to Buyer the portion of such payment which relates to the period on and after the Closing Date, and any portion of such payment which relates to the period prior to Closing which was credited to Seller at Closing. Annual Rent increases pursuant to the Leases are to be paid through the day preceding the Closing Date; provided, however, that if this transaction Closes, Buyer will receive a Rent credit at Closing equal to the annual Rent increases beginning November 1, 2016 through the day preceding the Closing Date, which the parties shall Prorate for the month in which Closing occurs. Any Capital Expenditures Obligation (as defined in the LeasesBasic Lease Information), including the amounts set forth in Exhibit C attached hereto, without notice, demand, deduction or set-off (except as otherwise expressly provided herein), which payment shall be accompanied by all applicable state and local sales, use and/or gross receipts taxes. Unless otherwise prohibited by Law, Tenant shall make Rent payments via Automated Clearing House (ACH) credit transfer (as opposed to direct debit) payment processing. The obligations of Seller, as landlord, pursuant Tenant to the Leases with respect to an annual $350 per unit allowance toward payment or reimbursement of Capital Expenditures pay Base Rent (as defined in the LeasesBasic Lease Information) made by Tenant and other sums to Landlord and the obligations of Landlord under this Lease are independent obligations. Base Rent, adjusted as herein provided, shall be payable monthly in advance. The first (1st) monthly installment of Base Rent, in the amount of $344,662.50 shall be payable concurrently with Tenant’s execution and delivery of this Lease to Landlord; thereafter, Base Rent shall be payable on the first (1st) day of each month beginning on the first (1st) day of the second (2nd) full calendar month of the Term following the applicable Abatement Period (as defined below). The monthly Base Rent for any partial month at the beginning of the Term shall equal the product of 1/365 (or in the event of a leap year, 1/366) of the annual Base Rent in effect during the partial month and the number of days in the partial month, and shall be due on the Commencement Date. Payments of Base Rent for any fractional calendar month at the end of the Term shall be similarly prorated. This Lease is intended to be a so-called “triple net” lease with respect to Landlord and, except as may be specifically set forth herein, the Base Rent owing hereunder is (x) to be paid by Seller through December 31Tenant absolutely net of all costs and expenses relating to Landlord’s ownership and operation of the Project and the Complex, 2016, with any unused portion on any Property for the year 2016 and (y) not to be applied reduced, offset or diminished, directly or indirectly, by any cost, charge or expense payable hereunder by Tenant or by others in connection with the Premises, the Project, the Complex, and/or the Business Park, or any part thereof. The provisions of Exhibit C attached hereto are intended to pass on to Tenant all costs and expenses relating to Landlord’s ownership and operation of the Premises, the Project and/or the Complex. Tenant shall pay Additional Rent, Taxes and Insurance (each as a credit to defined in Exhibit C) at the Consideration allocated for that Property at Closing. If this transaction Closes, percentage rent under same time and in the Leases for the year 2016 (if any) shall accrue through October 31, 2016 and shall be paid to Seller at Closing; provided that Buyer shall provide to Seller all information and documents necessary to calculate any such percentage rent no later than December 15, 2016, with such calculation to be an amount mutually agreed upon by Seller and Buyer prior to Closingsame manner as Base Rent.

Appears in 1 contract

Samples: Lease Agreement (Senti Biosciences, Inc.)

Rent. Tenant agrees to pay to Landlord, as annual base rent hereunder, the sum of $13.25 per square foot of rentable area of the Premises. The precise rentable area of the Premises is hereby agreed to be 22,122 square feet. Base rent shall be paid in consecutive monthly installments of Twenty-Four Thousand Four Hundred Twenty-Six Dollars and Thirty-Eight Cents ($24,426.38) on or before the first (1st) day of every calendar month during the term of the Lease, commencing on the commencement date of the Lease term as determined in accordance with Section 2 hereof. All rent payable under this Lease shall be paid without deduction or offset. Rent for partial months shall be prorated. Base rent shall be in addition to any tax imposed by the State of Florida on rentals. Base rent plus sales tax shall be paid to Landlord C/O XXXX X. XXXXX, 00 XXXXX XXXXX XXXXXX, XXXXX 000, XXXXXXXX, XXXXXXX 00000, or such other address as Landlord shall hereafter designate in writing. The covenant of Tenant to pay rent hereunder shall be independent of any other covenant contained in this Lease. Notwithstanding anything stated herein to the contrary, the parties shall Prorate all Rent actually received by Seller agree that the base rent for the first three (3) full calendar months of the Lease term shall be as follows: First (1st) full calendar month in which Closing occurs. At Closing, $ 4,426.38 plus tax Second (2nd) full calendar month $ 4,426.38 plus tax Third (3rd) full calendar month $14,426.38 plus tax In addition to the extent actually received by Seller prior to Closingbase rent, Seller Tenant shall pay to Buyer any and all prepaid Rent relating or pertaining to the Property. If Seller receives payment also be responsible for Rent after Closing, Seller shall immediately pay to Buyer the a pro rata portion of such payment the Common Area Maintenance (see item 4), which relates to shall be paid by Tenant as provided in this Lease. Tenant shall be responsible for all sales tax payments on any rent payments made under this Lease. Commencing on the period on First Anniversary Date of the first (1st) full calendar month of this Lease and after adjusted each Anniversary Date thereafter the Closing Datebase rent hereunder shall be increased by the percentage, and any portion if any, of increase in the Consumer Price Index as of such payment Anniversary Date over that which relates to existed on the period prior to Closing which was credited to Seller at Closing. Annual Rent increases pursuant to commencement of the Leases are to be paid through the day preceding the Closing Dateterm of this Lease; provided, however, that if this transaction Closes, Buyer will receive a Rent credit at Closing equal said increase shall in no event exceed three percent (3%) per annum during the initial term (but such cap shall not apply to the annual Rent increases beginning November 1renewal term). Such increase shall be determined by Landlord who shall notify Tenant thereof, 2016 through the day preceding the Closing in writing, not less than thirty (30) days in advance of each Anniversary Date, which and such notice shall include for Tenant's review, Landlord's calculations relating to any asserted increase. Tenant shall pay the parties shall Prorate increased rental to the Landlord for the month in which Closing occursperiod of time elapsing between the Anniversary Date and notice of such increase upon request by Landlord. Any Capital Expenditures Obligation (as defined in Thereafter the Leases) of Seller, as landlord, pursuant to the Leases with respect to an annual $350 per unit allowance toward payment or reimbursement of Capital Expenditures (as defined in the Leases) made by Tenant increase shall be paid by Seller through December 31, 2016, payable equally with any unused portion on any Property for the year 2016 to be applied as a credit to the Consideration allocated for that Property at Closing. If this transaction Closes, percentage rent under the Leases for the year 2016 (if any) shall accrue through October 31, 2016 and shall be paid to Seller at Closing; provided that Buyer shall provide to Seller all information and documents necessary to calculate any such percentage rent no later than December 15, 2016, with such calculation to be an amount mutually agreed upon by Seller and Buyer prior to Closingregular rental payments.

Appears in 1 contract

Samples: Tollgrade Communications Inc \Pa\

Rent. The parties shall Prorate all Rent actually received by Seller amount of rent for this Lease reflects the month selection in which Closing occurs. At Closingsection 4, to the extent actually received by Seller prior to Closing, Seller shall pay to Buyer any and all prepaid Rent relating or pertaining to the Propertyabove. If Seller receives payment this is a joint and several lease within individual rent responsibility (A); The amount of rent due for Rent after Closing, Seller shall immediately pay to Buyer the portion of such payment which relates to the period on and after the Closing Date, and any portion of such payment which relates to the period prior to Closing which was credited to Seller at ClosingEACH TENANT under this Lease is: $ . Annual Rent increases pursuant to the Leases are This is to be paid through in (twelve) equal payments of $ with the day preceding the Closing Date; provided, however, that if this transaction Closes, Buyer will receive a Rent credit at Closing equal to the annual Rent increases beginning November 1, 2016 through the day preceding the Closing Date, which the parties shall Prorate for the month in which Closing occurs. Any Capital Expenditures Obligation (as defined in the Leases) of Seller, as landlord, pursuant to the Leases with respect to an annual $350 per unit allowance toward payment or reimbursement of Capital Expenditures (as defined in the Leases) made by Tenant shall be paid by Seller through December 31, 2016, with any unused portion on any Property for the year 2016 to be applied as a credit to the Consideration allocated for that Property at Closingfirst installment due no later than . If this transaction Closes, percentage is an individual lease (B); The amount of rent due under the Leases for the year 2016 (if any) shall accrue through October 31, 2016 and shall this Lease is: $ . This is to be paid to Seller at Closing; provided that Buyer shall provide to Seller all information and documents necessary to calculate any such percentage rent in (twelve) equal payments of $ with the first installment due no later than December 15. XXXXXX agrees to pay the rent each month in advance on or before the 1st day of each month. XXXXXXXX does not have to ask (MAKE DEMAND UPON) TENANT to pay the rent. XXXXXX agrees to pay rent by first class mail postage prepaid or in person to LANDLORD at the place specified by LANDLORD. TENANT will be assessed a LATE CHARGE of $25.00 if rent has not been paid prior to the fifth day of the month. An additional late fee of $5.00 per day will accrue for each day beyond the fifth if TENANT does not pay the rent on time. If TENANT mails the rent to LANDLORD, 2016the date of payment will be the date the envelope receives U.S. postmark. Any rental payment received after legal action has been initiated by LANDLORD will be accepted with reservation and will be applied to delinquent rent due, with such calculation but will not affect any legal action instituted by LANDLORD against TENANT to recover delinquent rent and possession of the Leased Property. LANDLORD reserves the right to require that all monthly installments be made by money order or certified funds, or to require automatic or electronic payment. Checks that are returned for insufficient funds or otherwise, or a failed electronic funds transfer, will result in the following charges, in addition to the late charges specified herein and the face amount of the check or electronic funds transfer, and all other amounts recoverable by LANDLORD pursuant to this Lease or by law: (i) a reimbursement of any bad check return or failed electronic funds transfer fee charged by the bank; (ii) a bad check or failed electronic funds transfer processing fee in the amount of $35; (iii) legal interest from the date of the check or transfer; and (iv) a civil recovery not to exceed $250. If TENANT’S account is sent to a collection agency, TENANT is responsible for all additional fees incurred in the process. XXXXXX agrees to pay a non-refundable community fee of $ . This amount is freely contracted between the parties at the signing of this Agreement and is not to be an amount mutually returned to the TENANT under any circumstances; this non-refundable community fee belongs to the LANDLORD and is fully earned at the signing of this agreement – it is openly charged and agreed upon to by Seller and Buyer prior to Closingthe TENANT.

Appears in 1 contract

Samples: Lease

Rent. The parties shall Prorate all Tenant convenants and agrees to pay without demand, recorpment, ---- abatement, deduction or offset, to Landlord Rent actually received by Seller (and Additional Rent) for the Premises on or before the first (1st) day of the first (1st) full calendar month of the Term hereof and on or before the first (1st) day of each and every successive calendar month thereafter during the full Term of this Lease, subject to the adjustments as provided hereinafter, along with any applicable tax, at the current rate of six and three-quarters (6.75%) percent. In the event the Commencement Date occurs on a day other than the first (1st) day of a calendar month, the first Rent payment shall be in the amount of the Rent for one (1) full calendar month, plus the prorated Rent for the calendar month in which Closing occurs. At Closingthe Term of this Lease commences, to the extent actually received by Seller prior to Closing, Seller shall pay to Buyer any and all prepaid Rent relating or pertaining to the Property. If Seller receives payment for Rent after Closing, Seller shall immediately pay to Buyer the portion of such payment which relates to be due on the period on and after Commencement Date. Whenever under the Closing Date, and terms of this Lease any portion sum of such payment which relates to the period prior to Closing which was credited to Seller at Closing. Annual Rent increases pursuant to the Leases are money is required to be paid through the day preceding the Closing Date; provided, however, that if this transaction Closes, Buyer will receive a Rent credit at Closing equal by Tenant in addition to the annual Rent increases beginning November 1herein reserved, 2016 through the day preceding the Closing Datewhether or not such sum is herein described as "Additional Rent", which the parties shall Prorate or a provision is made for the month in which Closing occurs. Any Capital Expenditures Obligation (collection of said sum as defined in the Leases) of Seller"Additional Rent" said sum shall nevertheless, as landlordat Landlord's option, pursuant to the Leases with respect to an annual $350 per unit allowance toward payment or reimbursement of Capital Expenditures (as defined in the Leases) made by Tenant shall if not paid when due, be paid by Seller through December 31deemed Additional Rent, 2016, with any unused portion on any Property for the year 2016 to be applied as a credit to the Consideration allocated for that Property at Closing. If this transaction Closes, percentage rent under the Leases for the year 2016 (if any) shall accrue through October 31, 2016 and shall be collectible as such with the first installment of Rent thereafter falling due hereunder. In the event any installment or increment of Rent or Additional Rent payable under this Lease shall not be paid when due, a "late charge" of five percent (51/6) of the amount overdue may be charged (as Additional Rent) by Landlord for the purpose of defraying the expense and inconvenience incident to Seller at Closing; provided that Buyer shall provide to Seller all information handling such overdue payment and documents necessary to calculate any such percentage rent no later than December 15, 2016, with such calculation to be an amount mutually agreed upon by Seller for the purpose of compensating Landlord for its attendant inconvenience and Buyer prior to Closing.loss of cash flow,

Appears in 1 contract

Samples: Lease Agreement (Anything Internet Corp)

Rent. All rental charges are assessed to a resident’s Xxxxxx account by the start of the term. The parties shall Prorate all Rent actually received by Seller following payment methods are acceptable: Payment to the Business Office for the month entire term may be made in which Closing occursa lump sum no later than the first week of classes. At ClosingThe Business Office will accept cash, personal check, bank transfer (International Students only), Visa or MasterCard. Residents utilizing the Tuition Payment System Installment Plan may incorporate rental payments into their plan. Rental fees will be divided into four payments and are due according to the extent actually received dates set by Seller TPS. A $25 fee is required to participate in the installment plan. For more information, please make inquiries to xxxxxxxxxxxxxx@xxxxxxxxxxxxxx.xxx. Payments may be made online using Visa or MasterCard. CONTRACT CANCELLATION AND REFUNDS Housing accommodations covered by this contract will be canceled if the resident withdraws from Xxxxxx, or if the student’s marital status changes (to affect his or her housing arrangements). All rental charges for contract dates from the start of the term until the end of the period covered by the contract will be the responsibility of the student. If a student must vacate for any reasons listed above or for other reasons, the remainder of the rent for the contracted term will be due immediately upon vacating the property and must be paid prior to Closing, Seller shall pay departure. Any requests for alternative payment arrangements can only be negotiated in person in the seminary business office. Permanent residents who choose to Buyer vacate prior to the contract end date and thereby cancel this housing contract (or who cancel their housing renewal less than 30 days prior to move-in) must provide written notification of intent to vacate a minimum of 30 days prior to move-out. They will be responsible for all rental charges until the end of the thirty day period and will forfeit any and all prepaid Rent relating or pertaining housing deposits on file. If for any reason there is no housing deposit on file, a fine in the amount of the required deposit for the assigned unit will be assessed to the PropertyXxxxxx account. If Seller receives payment Additional fines for Rent after Closingimproper check-out will also be levied if necessary. Permanent residents who provide written notification with less than 30 days remaining in the current term will be asked to leave at the end of the current term. In this event, Seller shall immediately pay the resident will only be billed until the end of the term and the housing deposit will still be forfeited. Additional fines for improper check-out will be levied if necessary. Permanent residents who choose to Buyer vacate at the portion completion of such payment which relates to the period on and after Fall semester must notify the Closing Date, and any portion of such payment which relates to the period prior to Closing which was credited to Seller at Closing. Annual Rent increases pursuant to the Leases are to be paid Housing Office through the day preceding online renewal form on in writing no later than November 18, 2015. They will be responsible for all charges incurred during the Closing Date; providedFall semester, however, that if this transaction Closes, Buyer but will receive a Rent credit at Closing equal to the annual Rent increases beginning November 1, 2016 through the day preceding the Closing Date, which the parties shall Prorate be eligible for the month in which Closing occurshousing deposit refund. Any Capital Expenditures Obligation (as defined in the Leases) of Seller, as landlord, pursuant to the Leases with respect to an annual $350 per unit allowance toward payment or reimbursement of Capital Expenditures (as defined in the Leases) made by Tenant shall Move-out will be paid by Seller through December 31, 2016, with any unused portion on any Property for the year 2016 to be applied as a credit to the Consideration allocated for that Property at Closing. If this transaction Closes, percentage rent under the Leases for the year 2016 (if any) shall accrue through October 31, 2016 and shall be paid to Seller at Closing; provided that Buyer shall provide to Seller all information and documents necessary to calculate any such percentage rent no later than December 1518, 20162015. The Seminary reserves the right to cancel this contract in the event that the resident is non-compliant with the regulations set forth in this contract. In most cases, with such calculation the resident will receive one warning from the Seminary. If the resident continues to be an amount mutually agreed upon non-compliant with the terms of this contract, the Seminary will cancel the contract and the resident will be evicted without refund of rent or security deposit. In cases in which the resident may cause harm to self or other community members, the warning will be forgone. The Seminary can act solely on the basis of the concern without proof that the concern is validated. Out of the welfare for the community, any behavior or actions of residents that disrupts any part of the community in a way that causes others to be concerned about their safety can be deemed bases for eviction without validation by Seller and Buyer prior to Closingthe Seminary.

Appears in 1 contract

Samples: Carroll Housing Contract

Rent. The parties Lessee shall Prorate all pay rent to Lessor (or to an Assignee as "Assignee" is defined in Section 16 of this Agreement) in the amounts and by the dates as set forth in each Schedule ("Rent"). Unless otherwise explicitly provided in a Schedule, each monthly installment of Rent actually received by Seller for payable under each Schedule shall be due on the first business day of the month in which Closing occurssaid payment is to be made. At ClosingLessee shall pay all Rent as due when due without demand, to invoice or notice. If any payment due under a Schedule (including, but not limited to, Rent) is not paid within ten (10) days after the extent actually received by Seller prior to Closingdue date thereof, Seller Lessee shall pay to Buyer any and all prepaid Rent relating or pertaining to the Property. If Seller receives Lessor a late charge on such overdue payment for Rent after Closing, Seller shall immediately pay to Buyer the portion of such payment which relates to the period on and after the Closing Date, and any portion of such payment time during which relates to the period prior to Closing which was credited to Seller it is overdue at Closing. Annual Rent increases pursuant to the Leases are to be paid through the day preceding the Closing Date; provided, however, that if this transaction Closes, Buyer will receive a Rent credit at Closing rate equal to the annual lesser of (a) ten percent (10%) plus the current prime rate of interest as set forth in the Money Rates section of the Wall Street Journal on the due date or (b) the maximum rate of interest permitted by law. All Rent increases beginning November 1and other payments due and payable under each Schedule shall be made to Lessor at its address shown above, 2016 through or at such other address as Lessor may designate from time to time. 4. NET LEASE. EACH SCHEDULE SHALL BE A TRIPLE NET LEASE WHEREBY LESSEE SHALL PAY ALL TAXES, MAINTENANCE, INSURANCE AND OTHER COSTS AND EXPENSES AS MORE FULLY SET FORTH IN THIS AGREEMENT. LESSEE'S OBLIGATIONS TO PAY ALL RENT AND OTHER SUMS WHEN DUE AND TO OTHERWISE PERFORM AS REQUIRED UNDER EACH SCHEDULE SHALL BE ABSOLUTE AND UNCONDITIONAL, AND SHALL NOT BE SUBJECT TO ANY ABATEMENT, REDUCTION, SET-OFF, DEFENSE, COUNTERCLAIM, INTERRUPTION, DEFERMENT OR RECOUPMENT, FOR ANY REASON WHATSOEVER. If any of the day preceding Equipment is unsatisfactory for any reason, Lessee shall make any claim solely against the Closing Datemanufacturer and/or sellers of the Equipment and shall, which the parties shall Prorate for the month in which Closing occurs. Any Capital Expenditures Obligation nevertheless, pay Lessor or its successors or Assignees (as defined in the LeasesSection 16) of Seller, as landlord, pursuant to the Leases with respect to an annual $350 per unit allowance toward payment or reimbursement of Capital Expenditures (as defined in the Leases) made by Tenant shall be paid by Seller through December 31, 2016, with any unused portion on any Property for the year 2016 to be applied as a credit to the Consideration allocated for that Property at Closing. If this transaction Closes, percentage rent all amounts due and payable under the Leases Schedule for the year 2016 (if any) shall accrue through October 31, 2016 and shall be paid to Seller at Closing; provided that Buyer shall provide to Seller all information and documents necessary to calculate any such percentage rent no later than December 15, 2016, with such calculation to be an amount mutually agreed upon by Seller and Buyer prior to Closingsaid Equipment. 5.

Appears in 1 contract

Samples: Master Lease Agreement

Rent. The parties shall Prorate all Rent actually received by Seller for the month in which Closing occurs. At Closing, to the extent actually received by Seller prior to Closing, Seller Lessee shall pay to Buyer Lessor rent for the Furniture in the amount of $55,095.16 per month. Lessee shall commence payment of such monthly rent on the commencement date of the term of the Sublease, which date shall be September 8, 1997, unless otherwise determined, notwithstanding any earlier commencement of the term of this Lease. The parties understand and all prepaid Rent relating or pertaining acknowledge that the rent figure set forth above is an estimate by Lessor of the rent to be payable hereunder, based upon Lessor's preliminary estimate of the Propertyinitial cost of the Furniture and the amortization of such cost over the term of this Lease, and that Lessor shall not know the actual initial cost of the Furniture until after the date of commencement of the term. Accordingly, Lessor shall have the right, within six (6) months following the date of commencement of the term of this Lease, to deliver notice to Lessee setting forth a revised monthly rent figure payable hereunder, together with reasonable back-up documentation supporting the calculation of such rent figure. If Seller receives such monthly rental amount is in excess of the amount stated above, Lessee shall deliver to Lessor a reconciliation payment for Rent after Closing, Seller shall immediately pay to Buyer the portion of any underpayment within thirty (30) days following Lessor's delivery of such statement; correspondingly, if such figure is less than the monthly rental figure set forth above, Lessor shall credit any overpayments by Lessee against Lessee's next-due payment which relates to the period on and after the Closing Date, and any portion of such payment which relates to the period prior to Closing which was credited to Seller at Closing. Annual Rent increases pursuant to the Leases are to be paid through the day preceding the Closing Date; provided, however, that if this transaction Closes, Buyer will receive a Rent credit at Closing equal to the annual Rent increases beginning November 1, 2016 through the day preceding the Closing Date, which the parties shall Prorate for the month in which Closing occurs. Any Capital Expenditures Obligation (as defined in the Leasess) of Seller, as landlord, pursuant to the Leases with respect to an annual $350 per unit allowance toward payment or reimbursement of Capital Expenditures (as defined in the Leases) made by Tenant rent hereunder. Such monthly rent shall be paid by Seller through December 31payable in advance on the first day of each calendar month during the term hereof, 2016in lawful money of the United States (via wire transfer or other method mutually acceptable to Lessor and Lessee), with any unused portion on any Property for the year 2016 to be applied Lessor at its offices at 000 Xxxxxx Xxxxxxx, Xxx XXX0, Xxxxxxx Xxxx, Xxxxxxxxxx 00000, Attention: Lease Administrator, or to such other person or at such other place as a credit Lessor may from time to the Consideration allocated for that Property at Closingtime designate in writing. If this transaction Closes, percentage All rent under the Leases for the year 2016 (if any) shall accrue through October 31, 2016 and other amounts payable hereunder shall be paid to Seller at Closing; provided that Buyer shall provide to Seller all information due and documents necessary to calculate payable without any such percentage rent no later than December 15offset, 2016deduction, with such calculation to be an amount mutually agreed upon by Seller prior notice or demand and Buyer prior to Closingwithout any abatement, reduction, counterclaim or other right Lessee may claim against Lessor. 4.

Appears in 1 contract

Samples: Furniture Rental Agreement

Rent. Lessee agrees to pay to Lessor, in advance, without demand, at X.X.Xxx 0000, Xxxxxxxxx, Xxxxxxxx, 00000, as rent for the demised premises, the total sum of . Lessor may accept said rent in 12 equal installments of in advance, with the first installment due upon signing this lease, and subsequent installments due on the first day of each month, beginning and the final installment being due on . The parties term of occupancy shall Prorate be days, commencing and terminating at . Payment(s) may be made via personal check, money order, wire transfer, or cashier’s check only. Lessee shall pay all Rent actually bank fees associated with wire transfer. Monies received by Seller Lessor from Lessee shall be applied in the following manner: First, to any utility payments due; Second, to any outstanding repair or cleaning bills; Third, to any damage deposit amounts due; Fourth to any late fees or service charges due; Fifth, to any past due rent amounts; Sixth, to current rent installment payments due; Seventh, to any other monies due. All parties to this lease hereby grant prior consent for any Lessee to add one or more parking spaces(s) at any time after the initial signing of this lease with additional rent payments and deposits for said parking to be made a part of this lease upon that Lessee(s) placing his/her initials and date hereon. Recycling, UCSD, rent, and deposit charges shall be adjusted accordingly upon the inclusion of any additional Lessee after initial signing date. It is agreed by the parties hereto that the time of each and all such payments is the essence of this agreement. To cover Lessor's added costs for late payments, there shall be an increase of 5% assessed on the unpaid balance of each installment if not paid on or before the 1st day of the month in which Closing occursthat installment falls due. At ClosingFurthermore, in addition to the extent actually 5% penalty mentioned above, an additional $3.00 per day service charge shall be assessed by Lessor for every day after the 1st day that the installment remains unpaid. Where it is customary for joint Lessees to divide the total installment amongst themselves and submit multiple individual payments to Lessor, a separate $3.00 per day service charge shall be applied to each individual Lessee whose installment share remains delinquent. In the event that one Lessee, among several, elects to pay one or more installment shares in advance, the 5% penalty and $3.00 per day service charge shall still apply to any other Lessees whose installment shares are delinquent. Installment payments are payable only during business hours of Lessor, 9am-5pm, M-F, excluding holidays. Mailed payments shall be considered paid when received by Seller prior to Closingat Lessor’s address herein provided. In the event that any amount due is not paid in good funds, Seller Lessee shall pay Lessor a $25.00 NSF fee in addition to Buyer any and other assessments or service charges that may accrue before said amount is paid in good funds. Upon such occasion, Lessor shall have the right to demand all prepaid Rent relating subsequent payments be made with cash, cashiers check, or pertaining money order. The acceptance of rent after it falls due, or after knowledge of any breach hereof by Lessee, or the giving of any notice or making of any demand, whether according to the Property. If Seller receives payment for Rent after Closingany statutory provision or not, Seller or any other act or waiver shall immediately pay to Buyer the portion of such payment which relates to the period on and after the Closing Date, and any portion of such payment which relates to the period prior to Closing which was credited to Seller at Closing. Annual Rent increases pursuant to the Leases are to not be paid through the day preceding the Closing Date; provided, however, that if this transaction Closes, Buyer will receive a Rent credit at Closing equal to the annual Rent increases beginning November 1, 2016 through the day preceding the Closing Date, which the parties shall Prorate for the month in which Closing occurs. Any Capital Expenditures Obligation (as defined in the Leases) of Seller, as landlord, pursuant to the Leases with respect to an annual $350 per unit allowance toward payment or reimbursement of Capital Expenditures (as defined in the Leases) made by Tenant shall be paid by Seller through December 31, 2016, with any unused portion on any Property for the year 2016 to be applied construed as a credit waiver of Lessor’s right to the Consideration allocated for that Property at Closing. If this transaction Closesact without notice or demand or of any other rights hereby given to Lessor, percentage rent or as an election not to proceed under the Leases for the year 2016 (if any) shall accrue through October 31, 2016 and shall be paid to Seller at Closing; provided that Buyer shall provide to Seller all information and documents necessary to calculate any such percentage rent no later than December 15, 2016, with such calculation to be an amount mutually agreed upon by Seller and Buyer prior to Closingprovisions of this Lease.

Appears in 1 contract

Samples: Agreement of Lease

Rent. The parties Rent, percentage rent and reimbursements for common area maintenance charges, insurance premiums and other lease charges (other than real estate taxes and assessments, which shall Prorate be accounted for and prorated as provided in Section 1.2.2)(collectively, "RENTS") shall be accounted for and prorated as follows: except as otherwise provided in this Agreement, Inland Affiliate shall be entitled to all Rent actually received by Seller for the month in which Closing occurs. At Closing, to the extent actually received by Seller prior to Closing, Seller shall pay to Buyer any and all prepaid Rent relating or pertaining to the Property. If Seller receives payment for Rent after Closing, Seller shall immediately pay to Buyer the portion of such payment which relates to the period on Rents accruing from (including) and after the Closing Date, regardless of when paid or collected, and any portion all such items, if any, accruing prior to the Closing Date, regardless of when paid or collected, shall be deposited and paid as follows: forty percent (40%) of such payment which relates amount shall be deposited to the period prior Operations Reserve and the balance shall be paid to Closing which was credited to Seller at Closing. Annual Rent increases Withdrawing Member pursuant to the Leases are wire instructions for the Withdrawing Member contained in the Escrow Agreement. Thus if the Closing Date is September 15, 2004, one-half of the minimum rent collected for the month of September, 2004 will be credited to Inland Affiliate and the balance shall be deposited into the Operations Reserve and paid through to the day preceding Withdrawing Member, as provided above. The parties further agree that percentage rent for each tenant shall be prorated post closing based upon the pre-and post Closing allocations described above. There shall be no credit with respect to any unpaid accrued Rents owing from tenants of the Property as of the Closing Date. Holding Company shall not retain in the Operations Reserve any security deposits or prepaid rent to offset any unpaid accrued rent or other unpaid amounts. With respect to any such unpaid amounts (x) Subsidiary, acting exclusively by and through Cordish Affiliate shall retain the right to xxx the applicable tenant for collection of any such unpaid amounts (provided the costs of suit are funded exclusively from the Operations Reserve) and, to the extent the applicable lease permits, collection costs and interest (and, in such regard, Inland Affiliate agrees to cooperate reasonably with any efforts to collect the aforesaid unpaid amounts; provided, however, Cordish Affiliate shall not be entitled to xxx for possession or terminate any Lease), and provided further that Inland Affiliate shall be reimbursed for any reasonable cost or expense incurred by Inland Affiliate in connection with such cooperation, and Subsidiary, acting exclusively by and through Cordish Affiliate, shall have the right and power to prosecute and settle such suits, and (y) if this transaction Closesany such unpaid amounts are collected, Buyer will receive a Rent credit at Closing equal forty percent (40%) of such amounts shall be promptly deposited into the Operations Reserve and the remaining balance of such amounts shall be promptly paid to Withdrawing Member pursuant to the annual Rent increases wiring instructions for Withdrawing Member contained in the Escrow Agreement (and in such regard, if any amount is received from a tenant as to which such tenant specifically informs its landlord in writing to which lease obligation such payment is to be applied, such payment shall be so applied; if such tenant does not so inform Subsidiary as to how a particular payment is to be applied, such payment shall be applied first, on account of amounts owed subsequent to the Closing Date; second, on account of past due amounts owed prior to the Closing Date. Any balance remaining in any tenant's common area maintenance escrow account shall be part of the reconciliation and adjustments between the parties as of the Closing Date. Holding Company and Subsidiary shall promptly deliver to Inland Affiliate all Rents received from tenants under Leases, which are attributable to ownership periods beginning November 1, 2016 through the day preceding on (and including) and after the Closing Date, which the parties shall Prorate for the month in which Closing occurs. Any Capital Expenditures Obligation (as defined in the Leases) of Seller, as landlord, pursuant except to the Leases with respect to an annual $350 per unit allowance toward payment or reimbursement of Capital Expenditures (as defined in the Leases) made by Tenant shall be paid by Seller through December 31, 2016, with any unused portion on any Property for the year 2016 to be applied extent already included as a credit to the Consideration allocated for that Property at Closing. If this transaction Closes, percentage rent under the Leases for the year 2016 (if any) shall accrue through October 31, 2016 and shall be paid to Seller at Closing; provided that Buyer shall provide to Seller all information and documents necessary to calculate any such percentage rent no later than December 15, 2016, with such calculation to be an amount mutually agreed upon by Seller and Buyer prior to Closingcredit.

Appears in 1 contract

Samples: Contribution Agreement (Inland Western Retail Real Estate Trust Inc)

Rent. The parties A. Tenant covenants and agrees to pay to Landlord during the Lease Term, without any setoff or deduction whatsoever, the full amount of all Base Rental payments, and any adjustments thereof, due in accordance with the rental schedule set forth in Exhibit B-1 hereof (the "Base Rental"), the full amount of all payments of Additional Base Rental due in accordance with Exhibit B-2 hereof and the full amount of all parking charges, if any, due in accordance with this Lease (the "Additional Base Rental") and all such other sums of money as shall Prorate become due under this Lease (including, without limitation, any charges for replacement of non-Building Standard electric lamps and ballasts and any other services, goods or materials furnished by Landlord at Tenant's request), all Rent actually received by Seller of which hereinafter may be collectively called "Rent." Except as otherwise provided herein, the Base Rental and Additional Base Rental for each calendar year or portion thereof during the Lease Term, shall be due and payable in advance in equal monthly installments on the first day of each calendar month during the Lease Term and any extensions or renewals hereof, and Tenant hereby agrees to pay such Base Rental and Additional Base Rental to Landlord without demand, provided that the installment of Base Rental for the first full calendar month in which Closing occurs. At Closing, to of the extent actually received Lease Term shall be payable upon the execution of this Lease by Seller prior to Closing, Seller shall pay to Buyer any and all prepaid Rent relating or pertaining to the PropertyTenant. If Seller receives the Lease Term commences on a day other than the first day of a month or terminates on a day other than the last day of a month, then the installments of Base Rental and Additional Base Rental for such month or months shall be prorated, based on the number of days in such month. All such payments shall be by a good and sufficient check. No payment for by Tenant or receipt or acceptance by Landlord of a lesser amount than the correct amount of Rent due under this Lease shall be deemed to be other than a payment on account of the earliest Rent due hereunder, nor shall any endorsement or statement on any check or any letter accompanying any check or payment be deemed an accord and satisfaction, and Landlord may accept such check or payment without prejudice to Landlord's right to recover the balance or pursue any other available remedy. The acceptance by Landlord of any Rent on a date after Closing, Seller shall immediately pay to Buyer the portion due date of such payment which relates to the period on and after the Closing Date, and any portion of such payment which relates to the period prior to Closing which was credited to Seller at Closing. Annual Rent increases pursuant to the Leases are shall not be construed to be paid through the day preceding the Closing Date; provided, however, that if this transaction Closes, Buyer will receive a waiver of Landlord's right to declare a default for any other late payment. Tenant's covenant to pay Rent credit at Closing equal to the annual Rent increases beginning November 1, 2016 through the day preceding the Closing Date, which the parties shall Prorate for the month in which Closing occurs. Any Capital Expenditures Obligation (as defined in the Leases) of Seller, as landlord, pursuant to the Leases with respect to an annual $350 per unit allowance toward payment or reimbursement of Capital Expenditures (as defined in the Leases) made by Tenant shall be paid by Seller through December 31, 2016, with any unused portion on any Property for the year 2016 to be applied as a credit to the Consideration allocated for that Property at Closing. If independent of every other covenant set forth in this transaction Closes, percentage rent under the Leases for the year 2016 (if any) shall accrue through October 31, 2016 and shall be paid to Seller at Closing; provided that Buyer shall provide to Seller all information and documents necessary to calculate any such percentage rent no later than December 15, 2016, with such calculation to be an amount mutually agreed upon by Seller and Buyer prior to ClosingLease.

Appears in 1 contract

Samples: Sublease Agreement (Ritz Interactive, Inc.)

Rent. During the entire term of the Lease, Tenant covenants to pay to Landlord Rent, without notice of demand, deduction, set-off or counterclaim, in accordance with the following payment schedule Lease Year Monthly Rent 1 $ 715 The aforesaid Monthly Rent Installments shall commence on the Commencement Date and shall become due and payable for each successive calender month of the Lease, in advance, on the first day of each such calendar month. In the event the Commencement Date and Expiration Date fall on a day other than the first day of the calendar month, the Monthly Rent Installment for said months shall be prorated based upon a thirty (30) day month. Said Rent shall be paid to Landlord in lawful money of the United States of America at such place as Landlord may from time to time designate in writing. It is the Intent of the parties shall Prorate all Rent actually received by Seller for the month in which Closing occurs. At Closinghereto that, to the extent actually received permitted by Seller prior law, Tenant's covenant to Closingpay rent shall be independent of all other terms, Seller shall pay covenants or conditions of Lease, including Tenant's continued occupancy of the Premises. The monthly rent installments are composed of the rent for the premises plus Tenant's prorata monthly share of the common area maintenance costs and real estate taxes for the building during any given calendar year up to Buyer $3.50 per share per year (hereinafter called the "Base Share"). In the event said actual combined common area maintenance costs and real estate taxes for the building (hereinafter called the "Actual Cam/Tax Costs") exceed $3.50 per square foot in any and all prepaid Rent relating or pertaining given calendar year, then, in addition to the Property. If Seller receives payment for Rent after Closingmonthly rent installment, Seller shall immediately pay to Buyer the portion of such payment which relates to the period on and after the Closing Date, and any portion of such payment which relates to the period prior to Closing which was credited to Seller at Closing. Annual Rent increases pursuant to the Leases are to be paid through the day preceding the Closing Date; provided, however, that if this transaction Closes, Buyer will receive a Rent credit at Closing equal to the annual Rent increases beginning November 1, 2016 through the day preceding the Closing Date, which the parties shall Prorate for the month in which Closing occurs. Any Capital Expenditures Obligation (as defined in the Leases) of Seller, as landlord, pursuant to the Leases with respect to an annual $350 per unit allowance toward payment or reimbursement of Capital Expenditures (as defined in the Leases) made by Tenant shall be paid by Seller through December 31liable for its prorata share of said Actual Cam/Tax Costs in excess of $3.50 per square foot per year (hereinafter referred to in the "Additional Share") up to a maximum of $6.50 per square foot. In the event such Additional Share shall become due in any given year, 2016, with any unused portion on any Property for the year 2016 to be applied as a credit to the Consideration allocated for that Property at Closing. If this transaction Closes, percentage rent under the Leases for the year 2016 (if any) shall accrue through October 31, 2016 and shall be paid to Seller at Closing; provided that Buyer Landlord shall provide to Seller all information Tenant with a summary report detailing the actual common area maintenance charges and documents necessary to calculate any such percentage rent no later than December 15, 2016, with such calculation to be an amount mutually agreed upon by Seller and Buyer prior to Closingreal estate taxes incurred during said year.

Appears in 1 contract

Samples: Zix Corp

Rent. The parties shall Prorate all Rent actually received by Seller total rent that the Tenants agree to pay to the Landlord for the month in which Closing occurs. At Closingpremises, to the extent actually received by Seller prior to Closing, Seller shall pay to Buyer any and all prepaid Rent relating or pertaining to the Property. If Seller receives payment for Rent after Closing, Seller shall immediately pay to Buyer the portion of such payment which relates to the period on and after the Closing Date, and any portion of such payment which relates to the period prior to Closing which was credited to Seller at Closing. Annual Rent increases pursuant to the Leases are to be paid through the day preceding the Closing Date; provided, however, that if this transaction Closes, Buyer will receive a Rent credit at Closing equal to the annual Rent increases beginning November 1, 2016 through the day preceding the Closing Date, which the parties shall Prorate for the month in which Closing occursterm, is $.00 This total rent is due upon execution of this lease. Any Capital Expenditures Obligation (as defined in However, for the Leases) convenience of Sellerthe Tenants, as landlord, pursuant to the Leases with respect to an annual $350 per unit allowance toward payment or reimbursement of Capital Expenditures (as defined in the Leases) made by Tenant this rent shall be paid by Seller through December 31the Tenants to the Landlord in installments as outlined in Addendum A – Payment Schedule. Rent is always due on the first of the month regardless of lease commencement date. Acceptance of partial payments from some Tenants does not relieve such Tenants from their liability for the entire rents or as to shares owned by other joint and several Tenants. On execution of this lease, 2016Tenants agree to pay to the Landlord the first months’ rent installment unless otherwise agreed in writing; said payments to be considered a reservation fee due on execution until occupancy when said payments will be considered rent due and paid. A late charge of 5% of the overdue rent will be assessed on the fifth calendar day of the month if any rent installment is not received by the Landlord on or before the first calendar day of the month. An additional 5% of the outstanding balance will be assessed if the rent remains unpaid after the fifteenth (15th) calendar day of the month. Said late charges shall become due and payable immediately upon notice, and if not so paid, may be deducted by the Landlord from the security deposit as added rent. A charge of $50.00 will be made by the Landlord for each check of the Tenants returned for any reason. If Tenants make payment of any rent installment in an amount less than that due, Landlord may accept same, but shall not be bound by any restrictive endorsement, or any statement, or otherwise to the effect that such payment is made in full satisfaction of the amounts then due. Notwithstanding such acceptance by the Landlord, the Landlord may avail himself of any other legal remedies he may have. If Tenant makes any payments hereunder, and then fails to occupy the premises or fails to comply with any unused portion on other term or requirement of this agreement, Landlord may keep any Property such payments as partial liquidated damages. Notwithstanding retention of such payments as liquidated damages, the Landlord shall have, in addition, any other rights afforded Landlord under this lease against the Tenant for breach of this lease. In addition, if the year 2016 first month’s rent installment, the security and damage deposit are required to be applied as a credit paid at the time of execution of this lease and are not paid at such time, or if such payments are to be made pursuant to an agreed upon schedule (Addendum A), and such payments are not made at the Consideration allocated for time set forth in such schedule, then the Landlord reserves the right at any time after such time by which such payments should have been made, to give Tenant(s), or any of the Tenant(s), five days written notice, by certified mail, return receipt, that Property at Closing. If this transaction Closesif the deficiencies in these amounts are not paid in full and received by the Landlord by the end of such five day notice period, percentage then the Landlord may rent under the Leases for the year 2016 (if any) shall accrue through October 31, 2016 demised premises to others and shall be may retain any amounts paid to Seller at Closing; provided that Buyer shall provide date as partial liquidated damages and, in addition, may seek to Seller all information enforce any other rights the Landlord may have against the Tenant, and documents necessary to calculate any such percentage rent no later than December 15may, 2016in addition, with such calculation to be an amount mutually agreed upon by Seller and Buyer prior to Closingterminate the lease.

Appears in 1 contract

Samples: sdmrents.com

Rent. Rent in the sum of and Additional Rent defined as, including but not exclusively, Default charges, clean up charges, dumpster charges, damages to the Leased Space or Facility, and other unpaid fees or charges, shall be payable monthly to Operator in advance, without demand or notice on the Renewal Date of each month which is the of the month during the term of this Rental Agreement. The parties initial prepaid period is defined as the (“Initial Term”). All extensions and renewals thereafter shall Prorate all be the (“Term”). If Occupant vacates on a day other than the day before the Renewal Date, Occupant shall not be entitled to a refund of a pro rata portion of the Rent actually received by Seller for the month in which Closing the termination occurs. At ClosingThe Monthly Rent and/or other fees as noted in Provision 4 may be changed at any time by the Operator by giving the Occupant, at the address provided below, thirty (30) days written notice prior to the Renewal Date in which the Rent charge or other charge becomes effective. Any adjustment in the Rent shall not affect the terms of this Rental Agreement and all other terms and conditions remain in full force and effect. Occupant agrees to pay Rent: in person at the Office Address – cash is not accepted; by the Facility payment drop box “Drop Slot”, if available at the Facility; via Operator’s automated rental terminal “Kiosk”; by mail to the Office Address listed above; or with a credit/debit card which may be used in the following ways: in person at the Facility’s Office Address; by phone call to the Facility; Operator’s Kiosk; by mobile application Store Here Self Storage phone application “App”; or by advance written authorization, Occupant shall not pay Rent via the Drop Slot, nor mail cash to the Office Address. Occupant shall not place any Change of Address in the Drop Slot. Any Rent payment made by the website, Kiosk, or App, must be in the full amount due at the time of payment. If less than full payment is made over the website, Kiosk, or App, said payment shall be deemed automatically refused and any sums submitted shall be returned to Occupant at Occupant’s last known address, even if Occupant obtains a receipt from the website, Kiosk, or App. Occupant shall not fail to pay Rent because Occupant does not receive an invoice. All payments received will be applied first to any fees and charges due and owing, then to the oldest outstanding Rent obligation. Operator shall require payments of Rent to be in the form of cash, money order or cashier’s check in the event Occupant is in Default or has any payment due Operator returned for any reason, including insufficient funds, or credit/debit card charge back, or once Occupant is Thirty One (31) or more days late, and Operator refuses all checks if Occupant has had two (2) checks returned at any time for any reason. No payments of any kind can be made within Five (5) days of a lien sale unless said payment is made directly in hand, to the extent actually received Operator, at the Facility, by Seller prior to Closingcash, Seller shall pay to Buyer any and all prepaid Rent relating certified or pertaining to the Property. If Seller receives payment for Rent after Closing, Seller shall immediately pay to Buyer the portion of such payment which relates to the period on and after the Closing Date, and any portion of such payment which relates to the period prior to Closing which was credited to Seller at Closing. Annual Rent increases pursuant to the Leases are to be paid through the day preceding the Closing Date; provided, however, that if this transaction Closes, Buyer will receive a Rent credit at Closing equal to the annual Rent increases beginning November 1, 2016 through the day preceding the Closing Date, which the parties shall Prorate for the month in which Closing occurs. Any Capital Expenditures Obligation (as defined in the Leases) of Seller, as landlord, pursuant to the Leases with respect to an annual $350 per unit allowance toward payment or reimbursement of Capital Expenditures (as defined in the Leases) made by Tenant shall be paid by Seller through December 31, 2016, with any unused portion on any Property for the year 2016 to be applied as a credit to the Consideration allocated for that Property at Closing. If this transaction Closes, percentage rent under the Leases for the year 2016 (if any) shall accrue through October 31, 2016 and shall be paid to Seller at Closing; provided that Buyer shall provide to Seller all information and documents necessary to calculate any such percentage rent no later than December 15, 2016, with such calculation to be an amount mutually agreed upon by Seller and Buyer prior to Closingcashier’s checkonly.

Appears in 1 contract

Samples: Rental Agreement Arizona

Rent. 2.1 The parties annual base rental (hereinafter called "Annual Base Rental") for the Premises shall Prorate be THREE HUNDRED EIGHTY SIX THOUSAND FOUR HUNDRED SEVENTY THREE AND 68/100 DOLLARS ($386,473.68). The Annual Base Rental shall be payable in equal monthly installments of THIRTY TWO THOUSAND TWO HUNDRED SIX AND 14/100 DOLLARS ($32,206.14) (hereinafter called "Base Rent") in advance on the first day of each and every calendar month during the Lease Term. Base Rent shall be prorated at the rate of 1/30th of the Base Rent per day for any partial month. Beginning July 1, 1998 and each July 1 thereafter throughout the Lease Term, the Annual Base Rental and Base Rent shall automatically increase by an amount equal to three percent (3%) over the preceding twelve month's Annual Base Rental, and Base Rent. The first monthly Base Rent payment (for the period beginning June 15, 1997 through July 14, 1997) shall not be required to be paid. or agrees to pay (whether designated Base Rent, additional rent, costs, expenses, damages, losses, or otherwise) (all Rent actually of which are hereinafter called "Amount Due") as herein provided promptly at the times and in the manner herein specified without deduction, setoff, abatement counterclaim, or defense, except as otherwise provided for in this Lease. If any Amount Due is not received by Seller for Lessor within five (5) days after written notice following the month in date on which Closing occurs. At Closingit is due, to the extent actually received by Seller prior to Closing, Seller Lessee shall pay Lessor a late charge equal to Buyer any and all prepaid Rent relating or pertaining five percent (50%) of the amount of such past due payment, notwithstanding the date on which such payment is actually paid to the PropertyLessor. If Seller receives payment for Rent after Closingsuch Amount Due is not paid, Seller within thirty (30) days of the date on which it was originally due, then, in addition to such late charge, Lessee shall immediately pay to Buyer Lessor interest on such Amount Due from the portion of such payment date on which relates to it was originally due until the period on and after the Closing Date, and any portion of such payment which relates to the period prior to Closing which was credited to Seller date it is actually paid at Closing. Annual Rent increases pursuant to the Leases are to be paid through the day preceding the Closing Date; provided, however, that if this transaction Closes, Buyer will receive a Rent credit at Closing rate per annum equal to the annual Rent increases beginning November 1lesser of (I) the prime rate of interest announced by Wachovia Bank of Georgia, 2016 through N.A., or its successors, from in time to time for 90-day unsecured loans to its best commercial customers plus five percent (50%) or (ii) the day preceding the Closing Date, which the parties shall Prorate for the month in which Closing occursmaximum rate permitted by applicable law. Any Capital Expenditures Obligation (as defined in such late charge and interest shall be due and payable at the Leases) time of Seller, as landlord, pursuant actual payment of the Amount Due. Any Amount Due payable to the Leases with respect to an annual $350 per unit allowance toward payment or reimbursement of Capital Expenditures (as defined in the Leases) made Lessor by Tenant Lessee shall be paid in cash or by Seller through December 31check at the office of Lessor, 2016c/o Xxxxxxxxxx Xxxx/Xxxxxxx, with any unused portion on any Property for the year 2016 Xxx., Xxxxx 000, 00550 Xxxxxxx Xxxxxx Xxxx, Duluth, Georgia 30155, or at such other place or places as Lessor may from time to be applied as a credit to the Consideration allocated for that Property at Closing. If this transaction Closes, percentage rent under the Leases for the year 2016 (if any) shall accrue through October 31, 2016 and shall be paid to Seller at Closing; provided that Buyer shall provide to Seller all information and documents necessary to calculate any such percentage rent no later than December 15, 2016, with such calculation to be an amount mutually agreed upon by Seller and Buyer prior to Closingtime designate in writing.

Appears in 1 contract

Samples: Towne Services Inc

Rent. The parties shall Prorate all (a) Commencing on the first day of the first full month following the Commencement Date (“Rent actually received Commencement Date”), and on the first day of each Lease Year thereafter through the first day of the tenth Lease Year, Tenant, in consideration of the covenants made by Seller Landlord, covenants and agrees to pay to Landlord an initial annual base rent ("Base Rent") for the month Premises. of ONE HUNDRED THOUSAND AND 00/100 DOLLARS ($100,000.00), in which Closing occursannual installments, plus applicable sales and use taxes. At Closing, Tenant will also pay a prorated amount of Base Rent from the Commencement Date to the extent actually received by Seller prior to Closingfirst day of the first month following the Rent Commencement Date. Landlord shall receive the Base Rent, Seller shall pay to Buyer any and free from all prepaid Rent relating or pertaining to the Property. If Seller receives payment for Rent after Closingtaxes, Seller shall immediately pay to Buyer the portion of such payment which relates to the period on and after the Closing Datecharges, expenses, costs, and any portion deductions of such payment which relates every description. Thereafter, Landlord and Tenant agree that the Base Rent specified above will increase each subsequent Lease Year during the Term at the rate of two percent (2%) per year (“2% Base Rent Increase”), effective on the first (1st) day of each subsequent Lease Year and shall be subject to a ten (10) year Consumer Price Index reset (“CPI Reset”) using the period prior Consumer Price Index as more particularly set forth below, each ten (10) year Lease Year period. Base Rent shall be paid in advance in annual installments on the first (1st) day of each Lease Year to Closing which was credited Landlord at the address set forth above, unless Landlord notifies Tenant of a different address in writing, without demand, deduction or offset. All amounts payable by Tenant to Seller at Closing. Annual Rent increases Landlord pursuant to the Leases are to be paid through the day preceding the Closing Date; provided, however, that if terms of this transaction Closes, Buyer will receive a Lease other than Base Rent credit at Closing equal to the annual Rent increases beginning November 1, 2016 through the day preceding the Closing Date, which the parties shall Prorate for the month in which Closing occurs. Any Capital Expenditures Obligation (as defined in the Leases) of Seller, as landlord, pursuant to the Leases with respect to an annual $350 per unit allowance toward payment or reimbursement of Capital Expenditures (as defined in the Leases) made by Tenant shall be paid by Seller through December 31, 2016, with any unused portion on any Property for referred to herein as “Additional Rent” and the year 2016 to be applied as a credit to the Consideration allocated for that Property at Closing. If this transaction Closes, percentage rent under the Leases for the year 2016 (if any) term “Rent" shall accrue through October 31, 2016 mean Base Rent and shall be paid to Seller at Closing; provided that Buyer shall provide to Seller all information and documents necessary to calculate any such percentage rent no later than December 15, 2016, with such calculation to be an amount mutually agreed upon by Seller and Buyer prior to ClosingAdditional Rent.

Appears in 1 contract

Samples: Ground Lease Agreement

Rent. The parties In consideration of Landlord performing the Expansion Area Improvements, the Expansion Area Costs (not to exceed the Maximum Costs) shall Prorate all be amortized over a 15-year period (from the Completion Date) and included in the Rent actually received due under the Lease (as set forth in Section 3(a) of the Lease) commencing as of the first day of the calendar month following the Completion Date (the "Revised Rent Date"). Landlord and Tenant have agreed to modify the Rent under the Lease, and hereby modify the Rent effective as of the Revised Rent Date, such that the monthly installments of Rent first coming due under the Lease as of the Revised Rent Date shall be increased by Seller the sum of $10,894.00 to reflect the amortized Expansion Area Costs from the Completion Date through the expiration of the original Lease Term. Effective as of the Revised Rent Date, the Rent amounts specified in Section 3(a) of the Lease shall be deleted and the Rent due for each Lease Year (or partial Lease Year) commencing on the month Revised Rent Date and ending on the last day of the fifteenth (15th) Lease Year shall modified and amended by increasing the monthly amounts therein stated (and corresponding annual amounts due) by $10,894.00. Notwithstanding the foregoing or anything in which Closing occurs. At Closing, this Amendment to the extent actually received by Seller prior to Closingcontrary, Seller shall pay to Buyer any and all prepaid Rent relating or pertaining to the Property. If Seller receives payment for Rent after Closing, Seller shall immediately pay to Buyer the portion of such payment which relates to the period on and not later than thirty (30) days after the Closing Completion Date, but in no event later the Outside Completion Date, Landlord shall deliver to Tenant a complete and any portion detailed explanation of such payment all costs included in Expansion Area Costs, which relates to the period prior to Closing which was credited to Seller at Closing. Annual Rent increases pursuant to the Leases are shall include full and final unconditional lien waivers from all contractors, subcontractors and materialmen verifying all amounts contractually required to be paid through thereto. In the day preceding event the Closing Date; providedactual Expansion Area Costs shall be less than the Maximum Costs as herein above set forth, however, that if this transaction Closes, Buyer will receive the Rent adjustment set forth above shall be modified (retroactively) to reflect the actual Expansion Area Costs amortized over a Rent credit at Closing 15-year period and Tenant shall be credited with an amount equal to the annual Rent increases beginning November 1, 2016 through difference between the day preceding Maximum Costs and the Closing Date, which the parties shall Prorate for the month in which Closing occurs. Any Capital Expenditures Obligation (as defined in the Leases) of Seller, as landlord, pursuant to the Leases with respect to an annual $350 per unit allowance toward payment or reimbursement of Capital Expenditures (as defined in the Leases) made by Tenant shall be paid by Seller through December 31, 2016, with any unused portion on any Property for the year 2016 to be applied as a credit to the Consideration allocated for that Property at Closing. If this transaction Closes, percentage rent under the Leases for the year 2016 (if any) shall accrue through October 31, 2016 and shall be paid to Seller at Closing; provided that Buyer shall provide to Seller all information and documents necessary to calculate any such percentage rent no later than December 15, 2016, with such calculation to be an amount mutually agreed upon by Seller and Buyer prior to Closingactual Expansion Area Costs.

Appears in 1 contract

Samples: Lease (Shoe Carnival Inc)

Rent. The parties shall Prorate all Rent actually received by Seller for the month in which Closing occurs. At Closing, to the extent actually received by Seller prior to Closing, Seller Tenant shall pay to Buyer Landlord as rent for the Premises the sum specified in Subparagraph 4.B below (the "Monthly Installment") each month in advance on the first day of each calendar month, without deduction or offset, prior notice or demand, commencing on the Commencement Date and continuing through the term of this Lease, together with such additional rents as are payable by Tenant to Landlord under the terms of this Lease. The Monthly Installment for any period during the Lease Term which period is less than one (1) full month shall be a pro rata portion of the Monthly Installment based upon a thirty (30) day month. The Monthly Installment of rent payable each month during the Lease Term shall be the following respective amounts during the following respective time periods: TIME PERIOD MONTHLY INSTALLMENT 6/1/98 thru 5/31/99 $24,008.00 6/1/99 thru 5/31/00 25,208.00 6/1/00 thru 5/31/01 26,468.00 6/1/01 thru 5/31/02 27,792.00 6/1/02 thru 5/31/03 29,181.00 Tenant acknowledges that late payment by Tenant to Landlord of rent and all prepaid Rent relating other sums due hereunder will cause Landlord to incur costs not contemplated by this Lease, the exact amount of which will be extremely difficult to ascertain. Such costs include, but are not limited to, processing and accounting charges, and late charges which may be imposed on Landlord by the terms of any mortgage or pertaining to deed of trust covering the PropertyPremises. If Seller receives payment for Rent Accordingly, if any installment of rent or any other sum due from Tenant shall not be received by Landlord within ten (10) days after Closingsuch amount shall be due, Seller Tenant shall immediately pay to Buyer the portion Landlord, as additional rent, a late charge equal to six percent (6%) of such overdue amount. The parties hereby agree that such late charge represents a fair and reasonable estimate of the costs Landlord will incur by reason of late payment which relates to the period on and after the Closing Date, and any portion by Tenant. Acceptance of such payment which relates to the period prior to Closing which was credited to Seller at Closing. Annual Rent increases pursuant to the Leases are to be paid through the day preceding the Closing Date; provided, however, that if this transaction Closes, Buyer will receive late charge by Landlord shall in no event constitute a Rent credit at Closing equal to the annual Rent increases beginning November 1, 2016 through the day preceding the Closing Date, which the parties shall Prorate for the month in which Closing occurs. Any Capital Expenditures Obligation (as defined in the Leases) waiver of Seller, as landlord, pursuant to the Leases Tenant's default with respect to an annual $350 per unit allowance toward payment or reimbursement such overdue amount, nor prevent Landlord from exercising any of Capital Expenditures (as defined its other rights and remedies granted hereunder. All taxes, insurance premiums, Common Area Charges, late charges, costs and expenses which Tenant is required to pay hereunder, together with all interest and penalties that may accrue thereon in the Leases) made event of Tenant's failure to pay such amounts, and all reasonable damages, costs, and attorneys' fees and expenses which Landlord may incur by reason of any default of Tenant or failure on Tenant's part to comply with the terms of this Lease, shall be paid by Seller through December 31, 2016, with any unused portion on any Property for the year 2016 deemed to be applied as a credit to the Consideration allocated for that Property at Closing. If this transaction Closes, percentage additional rent under the Leases for the year 2016 (if any"Additional Rent") shall accrue through October 31, 2016 and shall be paid in addition to Seller the Monthly Installment of rent, and, in the event of nonpayment by Tenant, Landlord shall have all of the rights and remedies with respect thereto as Landlord has for the nonpayment of the Monthly Installment of rent. Rent shall be payable in lawful money of the United States of America to Landlord at Closing; provided that Buyer 000 Xxxxxxxx Xxxxxx, Xxxxxxxx, Xxxxxxxxxx 00000 or to such other person(s) or at such other place(s) as Landlord may designate in writing. Concurrently with the execution of this Lease, Tenant shall provide pay to Seller all information and documents necessary to calculate any such percentage rent no later than December 15, 2016, with such calculation Landlord the sum of Twenty-Four Thousand Eight Dollars ($24,008.00) to be an amount mutually agreed applied to the Monthly Installment of rent first accruing under this Lease. Tenant shall deposit the sum of Twenty-Nine Thousand, One Hundred Eighty-One Dollars ($29,181.00) (the "Security Deposit") upon execution of this Lease, to secure the faithful performance by Seller Tenant of each term, covenant and Buyer prior condition of this Lease. If Tenant shall at any time fail to Closingmake any payment or fail to keep or perform any term, covenant or condition on its part to be made or performed or kept under this Lease, Landlord may, but shall not be obligated to and without waiving or releasing Tenant from any obligation under this Lease, use, apply or retain the whole or any part of the Security Deposit (A) to the extent of any sum due to Landlord; (B) to make any required payment on Tenant's behalf; or (C) to compensate Landlord for any loss, damages, attorneys' fees or expense sustained by Landlord due to Tenant's default. In such event, Tenant shall, within five (5) days of written demand by Landlord, remit to Landlord sufficient funds to restore the Security Deposit to its original sum. No interest shall accrue on the Security Deposit. Landlord shall not be required to keep the Security Deposit separate from its general funds. Should Tenant comply with all the terms, covenants, and conditions of this Lease and at the end of the term of this Lease leave the Premises in the condition required by this Lease, then said Security Deposit, less any sums owing to Landlord or which Landlord is otherwise entitled to retain, shall be returned to Tenant within thirty (30) days after the termination of this Lease and vacancy of the Premises by Tenant. Tenant shall use the Premises only in conformance with applicable governmental laws, regulations, rules and ordinances for the purpose of general office and for no other purpose. Tenant shall indemnify, protect, defend, and hold Landlord harmless against any loss, expense, damage, attorneys' fees or liability arising out of the failure of Tenant to comply with any applicable law. Tenant shall not commit or suffer to be committed, any waste upon the Premises, or any nuisance, or other acts or things which may disturb the quiet enjoyment of any other tenant in the buildings adjacent to the Premises, or allow any sale by auction upon the Premises, or allow the Premises to be used for any unlawful purpose, or place any loads upon the floor, walls or ceiling which endanger the structure, or place any harmful liquids in the drainage system of the Building. No waste materials or refuse shall be dumped upon or permitted to remain upon any part of the Parcel outside of the Building, except in trash containers placed inside exterior enclosures designated for that purpose by Landlord. No materials, supplies, equipment, finished products or semifinished products, raw materials or articles of any nature shall be stored upon or permitted to remain on any portion of the Parcel outside of the Building. Tenant shall strictly comply with the provisions of Paragraph 39 below.

Appears in 1 contract

Samples: 1 Lease Agreement (PSW Technologies Inc)

Rent. The parties Unless otherwise agreed to by an addendum to this Agreement, the monthly rental rate shall Prorate all Rent actually received by Seller equal the Basic Allowance for Housing (with dependents) rate (“BAH”), for the month in which Closing occurs. At Closing, to senior service member resident at the extent actually received by Seller prior to Closing, Seller shall pay to Buyer any and all prepaid Rent relating or pertaining to the Property. If Seller receives payment for Rent after Closing, Seller shall immediately pay to Buyer the portion of such payment which relates to the period on and after the Closing Date, and any portion of such payment which relates to the period prior to Closing which was credited to Seller at Closing. Annual Rent increases pursuant to the Leases are to be paid through the day preceding the Closing Date; provided, Premises provided however, that if Resident is not assigned to Fort Leavenworth and if Resident's BAH is lower than the BAH that would be provided to a Service Member of Resident's equivalent rank assigned to Fort Leavenworth, the monthly rental rate hereunder shall equal the higher BAH as calculated for a Service Member of Resident's equivalent rank assigned to Fort Leavenworth. Resident certifies to Landlord that he or she is the senior service member resident at the Premises and Resident agrees that, if any other resident of the Premises becomes the senior service member resident at the Premises, he or she will cause such senior service member to sign this transaction ClosesAgreement (or its equivalent in use at such time) and become the “Resident” under this Agreement. Rent will be increased/decreased when increases/reductions occur to the BAH of the Resident, Buyer and the Resident shall notify the Landlord of any increases or decreases in the BAH of the Resident other than general increases or decreases effecting all members of the applicable service branch. Payment will receive be made through an allotment/deduction from the Resident's pay account to the Landlord. Payment is due on the first day of the month for the previous month's rent (payment in arrears). Because an allotment can only be for a Rent credit full month, Resident shall pay pro-rated rent in the amount of $ (amount) for the period of (date) to (date) at Closing the time of signing this Agreement. Credit cards and post dated checks are accepted by Landlord for pro-rated rent payments. Notwithstanding the foregoing, if Resident does not qualify for BAH at the "with dependents" rate for any reason, Resident shall be personally responsible to pay to FLFHC II, as additional rent due and payable hereunder on the first day of each month, an amount equal to the annual Rent increases beginning November 1, 2016 through difference between the day preceding amount of Resident's actual BAH and the Closing Date, which the parties shall Prorate amount of BAH Resident would have received if he/she qualified for the “with dependents” BAH rate. For Residents who are Army, Navy or Air Force service members, by signing this Agreement, authorization is given by the Resident to the Landlord (or its BAH collection agent) to initiate, maintain and stop an allotment equal to the BAH payable to the Landlord. Residents who are Marine and Coast Guard service members will be required to sign a copy of DD Form 2558 Authorization to Start, Stop or Change an allotment in order to have their allotments started, and will be required to sign a new copy of DD Form 2558 to change their allotment each time adjustments are made to the Resident’s BAH by the applicable service branch due to a change in rank, number of dependents, periodic increases or other reasons. In either case, such allotment shall be made effective the first full month in which Closing occursafter the effectiveness of this Agreement (or the first month if this Agreement becomes effective on the first day of a month). Any Capital Expenditures Obligation (as defined All payments received from Resident shall first be applied to outstanding charges other than rent, and then to monthly rent. Spouses of Residents must possess a Special Power of Attorney to sign this Agreement and authorize the initiation of the required BAH allotment on behalf of Resident. Resident's failure to pay rent on time or premature discontinuation of Resident's BAH allotment may result in the Leasestermination of this Agreement by FLFHC II and, if necessary, the eviction of Resident and any other occupant(s) of Seller, as landlord, pursuant to from the Leases with respect to an annual $350 per unit allowance toward payment or reimbursement of Capital Expenditures (as defined in the Leases) made by Tenant shall be paid by Seller through December 31, 2016, with any unused portion on any Property for the year 2016 to be applied as a credit to the Consideration allocated for that Property at Closing. If this transaction Closes, percentage rent under the Leases for the year 2016 (if any) shall accrue through October 31, 2016 and shall be paid to Seller at Closing; provided that Buyer shall provide to Seller all information and documents necessary to calculate any such percentage rent no later than December 15, 2016, with such calculation to be an amount mutually agreed upon by Seller and Buyer prior to ClosingPremises.

Appears in 1 contract

Samples: Resident Occupancy Agreement

Rent. The parties shall Prorate all Rent actually received by Seller for the month in which Closing occurs. At Closing, to the extent actually received by Seller prior to Closing, Seller A. BASE RENT: TENANT shall pay to Buyer LANDLORD as monthly Rent ("Base Rent"), without deduction, setoff, prior notice, or demand, the sum of PER SCHEDULE A Dollars ($______), per month in advance of the first (1st) day of each month, commencing on the date the term commences, and continuing during the term. Monthly Rent for the first month or portion of it shall be paid on the day the term commences. Monthly Rent for any partial month shall be prorated at the rate of one-thirtieth (1/30th) of the monthly Rent per day. Monthly Rent shall be adjusted according to the schedule attached hereto as Schedule A. Base Rent and all prepaid other sums payable to LANDLORD hereunder shall be herein referred to as Rent. All Rent relating shall he paid to LANDLORD at the address to which notices to LANDLORD are given. B. LATE CHARGES: LANDLORD hereby acknowledges that late payment by TENANT of Rent will cause LANDLORD to incur costs not contemplated by this Lease, the exact amount of which will be extremely difficult to ascertain. Such costs include, but are not limited to, processing and accounting charges, and late charges, which may be imposed upon LANDLORD by any Lender. Accordingly, if any Rent shall not be received by LANDLORD on or pertaining before the date such amount shall be due, then, without any requirement for notice to TENANT, TENANT shall pay to LANDLORD a late charge equal to six percent (6%) of each such overdue amount. If payment is not made within five (5) days after the payment is due, the amount of the late charge shall increase to ten percent (10%) of such overdue amount. The parties hereby agree that such late charge represents a fair and reasonable estimate of the costs LANDLORD will incur by reason of such late payment. Acceptance of such late charge by LANDLORD shall in no event constitute a waiver of TENANT'S Default or Breach with respect to such overdue amount, nor prevent the exercise of any of the other rights and remedies granted hereunder. In the event that a late charge becomes payable hereunder, whether or not collected, for three (3) installments of Base Rent at any time during the term, then notwithstanding any provision of this Lease to the Propertycontrary, Base Rent shall, at LANDLORD'S option, become due and payable quarterly in advance. If Seller receives payment for Rent after Closing, Seller 7. COMMON AREAS - OPERATING COSTS: TENANT shall immediately pay to Buyer LANDLORD at the portion of such payment which relates to the period on and after the Closing Date, and any portion of such payment which relates to the period prior to Closing which was credited to Seller at Closing. Annual Rent increases pursuant to the Leases are to be paid through the day preceding the Closing Date; provided, however, that if times set forth in this transaction Closes, Buyer will receive a Rent credit at Closing equal to the annual Rent increases beginning November 1, 2016 through the day preceding the Closing Date, which the parties shall Prorate for the month in which Closing occurs. Any Capital Expenditures Obligation paragraph TENANT'S Share (as defined in the LeasesParagraph 16) of SellerLANDLORD's operating costs for the building and outside areas in which the Premises are located; in monthly installments payable with the Base Rent, as landlordestablished by LANDLORD in accordance with Paragraph 16 hereof. LANDLORD'S operating costs include, pursuant without limitation, all costs of any kind paid or incurred by LANDLORD in operating, cleaning, equipping, protecting, lighting, repairing. replacing and maintaining the areas of the building not leased or available for lease to the Leases with respect to an annual $350 per unit allowance toward payment or reimbursement of Capital Expenditures (as defined in the Leases) made by Tenant tenants, common areas, landscaping, parking areas and walkways. The costs shall be paid by Seller through December 31include, 2016, with any unused portion on any Property for the year 2016 to be applied as a credit to the Consideration allocated for that Property at Closing. If this transaction Closes, percentage rent under the Leases for the year 2016 (if any) shall accrue through October 31, 2016 and shall be paid to Seller at Closing; provided that Buyer shall provide to Seller all information and documents necessary to calculate any such percentage rent no later than December 15, 2016, with such calculation to be an amount mutually agreed upon by Seller and Buyer prior to Closing.without

Appears in 1 contract

Samples: Lease (Eip Microwave Inc)

Rent. The parties shall Prorate all Rent actually received by Seller for the month in which Closing occurs. At Closing, to the extent actually received by Seller prior to Closing, Seller (a) Tenant shall pay to Buyer any Landlord or Lender, if directed by Landlord, as annual rent for the Premises during the Term, the amount of One Million Two Hundred Fifty Thousand and all prepaid No/100 Dollars ($1,250,000.00) ("Basic Rent"), subject to adjustment as set forth below, which rent shall be paid in advance in equal monthly installments of One Hundred Four Thousand One Hundred Sixty-Six and 66/100 Dollars ($104,166.66) commencing on the Commencement Date and continuing on the first day of each month thereafter during the Term (the said days being called the "Basic Rent relating Payment Dates"), and shall pay the same at Landlord's address set forth below, or pertaining at such other place or to such other person or persons and in such proportions as Landlord from time to time may designate to Tenant in writing, in funds which at the Property. If Seller receives payment for Rent after Closing, Seller shall immediately pay to Buyer the portion time of such payment which relates shall be legal tender for the payment of public or private debts in the United States of America and if required by Lender by wire transfer in immediately available federal funds to such account in such bank as Lender shall designate from time to time. Pro rata Basic Rent for the period from the Commencement Date to the period first day of the month next following the Commencement Date shall be paid in advance on and after the Closing Commencement Date. In addition, and if Tenant fails to make any portion payment of Basic Rent or Additional Rent to Landlord on the date due, Tenant shall pay a late charge equal to ten percent (10%) of the amount past due. (b) If any installment of Basic Rent or Additional Rent is not paid on the date due, Tenant shall pay to the party entitled to receive such installment interest on such overdue payment at the Default Rate, accruing from the due date of such payment until the same is paid. (c) Tenant shall pay and discharge before the imposition of any fine, lien, interest or penalty may be added thereto for late payment thereof, as Additional Rent, all other amounts and obligations which relates Tenant assumes or agrees to the period prior to Closing which was credited to Seller at Closing. Annual Rent increases pay or discharge pursuant to this Lease, together with every fine, penalty, interest and cost which may be added by the Leases are party to be paid through whom such payment is due for nonpayment or late payment thereof. In the day preceding event of any failure by Tenant to pay or discharge any of the Closing Date; providedforegoing, howeverLandlord and Lender shall have all rights, that if this transaction Closespowers and remedies provided herein, Buyer will receive a Rent credit at Closing equal to by law or otherwise, in the annual Rent increases beginning November 1, 2016 through the day preceding the Closing Date, which the parties shall Prorate for the month in which Closing occursevent of nonpayment of Basic Rent. Any Capital Expenditures Obligation (as defined in the Leases) of Seller, as landlord, pursuant Additional Rent payable to the Leases with respect to an annual $350 per unit allowance toward payment or reimbursement of Capital Expenditures (as defined in the Leases) made by Tenant shall be paid by Seller through December 31, 2016, with any unused portion on any Property for the year 2016 to be applied as a credit to the Consideration allocated for that Property at Closing. If this transaction Closes, percentage rent under the Leases for the year 2016 (if any) shall accrue through October 31, 2016 and Landlord shall be paid to Seller at Closing; provided that Buyer shall provide the party to Seller all information and documents necessary to calculate any such percentage rent no later than December 15, 2016, with such calculation whom Basic Rent is to be an amount mutually agreed upon by Seller and Buyer prior to Closingpaid. 5.

Appears in 1 contract

Samples: Ace Hardware Corp

Rent. The parties 4.1. MONTHLY BASE RENT. For the period commencing on the Commencement Date and continuing until May 31, 2021 (the “Free Base Rent Period”), Lessee shall Prorate all not be obligated to pay Monthly Base Rent actually received by Seller for to Lessor. Notwithstanding the foregoing, during the Free Base Rent Period and each month in which Closing occurs. At Closingthereafter, to the extent actually received by Seller prior to Closing, Seller Lessee shall pay to Buyer Lessor all other sums of any and all prepaid Rent relating type or pertaining to the Property. If Seller receives payment for Rent after Closing, Seller shall immediately pay to Buyer the portion of such payment which relates to the period on and after the Closing Date, and any portion of such payment which relates to the period prior to Closing which was credited to Seller at Closing. Annual Rent increases pursuant to the Leases are kind required to be paid through by Lessee hereunder, including, without limitation, additional rent under Section 4.2 of this Lease. Commencing on June 1, 2021 (the “Measurement Date”), and continuing thereafter until the day preceding the Closing Date; provided, however, that if this transaction Closes, Buyer will receive a Rent credit at Closing equal prior to the annual Rent increases beginning November 1, 2016 through first anniversary of the day preceding the Closing Measurement Date, which the parties Lessee shall Prorate for the month in which Closing occurs. Any Capital Expenditures Obligation pay to Lessor a monthly base rental (as defined “Monthly Base Rent”) in the Leases) amount of SellerTwenty-Nine Thousand Six Hundred Eighteen and 34/100ths dollars ($29,618.34). On each anniversary of the Measurement Date, as landlord, pursuant to the Leases with respect to an annual $350 per unit allowance toward payment or reimbursement of Capital Expenditures (as defined in the Leases) made by Tenant Monthly Base Rent shall be paid increased in accordance with the provisions of Section 4.3. The Monthly Base Rent due hereunder shall be payable to Lessor by Seller through December 31, 2016, with any unused portion on any Property for the year 2016 first day of each month during the Term (at the address stated herein or to be applied such other persons or at such other places as a credit to the Consideration allocated for that Property at Closing. If this transaction Closes, percentage rent under the Leases for the year 2016 (if any) shall accrue through October 31, 2016 Lessor may designate in writing and shall be paid in lawful money of the United States of America). Monthly Base Rent for any period during the Term which is for less than one (1) month shall be a pro rata portion of the monthly installment. If the Commencement Date does not fall on the first day of a calendar month, such month’s Monthly Base Rent shall be due and payable on the Commencement Date. The Monthly Base Rent set forth in this Section 4.1 is a negotiated figure and shall govern whether or not the actual rentable square footage of the Premises is the same as set forth in Section 12 hereof. Lessee shall have no right to Seller at Closing; provided withhold, deduct or offset any amount from the Monthly Base Rent or any other sum due hereunder even if the actual rentable square footage of the Premises is less than that Buyer shall provide to Seller all information and documents necessary to calculate any such percentage rent no later than December 15, 2016, with such calculation to be an amount mutually agreed upon by Seller and Buyer prior to Closingset forth in Section 12.

Appears in 1 contract

Samples: Work Letter Agreement (PLBY Group, Inc.)

Rent. The parties shall Prorate all During the Term, Xxxxxx will pay to Landlord the Rent actually received by Seller and Additional Charges in lawful money of the United States of America and legal tender for the month in which Closing occurs. At Closingpayment of public and private debts, to the extent actually received by Seller prior to Closing, Seller shall pay to Buyer any and all prepaid Rent relating or pertaining to the Property. If Seller receives payment for Rent after Closing, Seller shall immediately pay to Buyer the portion of such payment which relates to the period on and after the Closing Date, and any portion of such payment which relates to the period prior to Closing which was credited to Seller at Closing. Annual Rent increases pursuant to the Leases are to be paid through the day preceding the Closing Date; provided, however, that if this transaction Closes, Buyer will receive a Rent credit at Closing equal to the annual Rent increases beginning November 1, 2016 through the day preceding the Closing Date, which the parties shall Prorate for the month in which Closing occurs. Any Capital Expenditures Obligation (as defined in the Leasesmanner provided in Section 3.3. The Base Rent during any Lease Year is payable in advance in consecutive monthly installments on the fifth (5th) Business Day of Seller, as landlord, pursuant to each calendar month during that Lease Year and the Leases with respect to an annual $350 per unit allowance toward payment or reimbursement Percentage Rent during any Lease Year for all the Facilities other than the Ohio Facilities is payable in advance in consecutive monthly installments on the fifth (5th) Business Day of Capital Expenditures (as defined in the Leases) made by Tenant shall be paid by Seller through December 31, 2016, with any unused portion on any Property for the year 2016 to be applied as a credit to the Consideration allocated for each calendar month during that Property at Closing. If this transaction Closes, percentage rent under the Leases for the year 2016 (if any) shall accrue through October 31, 2016 and shall be paid to Seller at ClosingLease Year; provided that Buyer during the first three (3) months of each Percentage Rent Reset Year the amount of the Percentage Rent payable monthly in advance shall provide remain the same as in the then preceding Lease Year, and provided further that Tenant shall make a payment to Seller all information and documents Landlord (or be entitled to set off against its Rent payment due) on the fifth (5th) Business Day of the fourth (4th) calendar month of such Lease Year in the amount necessary to calculate “true-up” any Percentage Rent payments not yet (or overpayments having been) made for such percentage rent no later than December 15three (3) month period. The Percentage Rent for the Ohio Facilities is payable in advance on the fifth (5th) Business Day of each calendar month and such advance payment shall be calculated assuming Net Revenues of the applicable month will equal average monthly Net Revenues for the preceding calendar quarter (and for the first calendar quarter of the Lease, 2016assuming monthly Net Revenue will equal $ ), with provided that Tenant shall make a payment to Landlord (or be entitled to set off against a Rent payment due) on the fifth (5th) Business Day of the following calendar month in the amount necessary to “true-up” any Percentage Rent payments not yet (or overpayments having been) made for such calculation prior month. Unless otherwise agreed by the parties, Rent and Additional Charges shall be prorated as to be any partial months at the beginning and end of the Term. The parties will agree on an amount mutually agreed upon by Seller and Buyer prior to Closingallocation of the Base Rent on a declining basis for federal income tax purposes within the 115/85 safe harbor of Section 467 of the Code, assuming a projected schedule of Base Rent for this purpose.

Appears in 1 contract

Samples: Master Lease (Gaming & Leisure Properties, Inc.)

Rent. The parties Occupant shall Prorate all pay Owner the sum of $ per month (hereinafter referred to as the “Rent”) for the term of the lease, payable on the Fifth (5th) day of each month of the term without written demand or billing statement. Occupant shall pay Owner using Site Link, accessed through the Executive Storage at Croassroads’s website. If occupancy of the Storage Space begins on any other day other than the first day of the month, Owner may require a full month’s rent to be paid in advance and the subsequent month’s rent adjusted as agreed. Owner does not pro-rate partial month’s rent. Under no circumstances shall the Occupant be entitled to a refund of the first month’s Rent. In addition, Occupant shall not be entiled to a refund of any pro- rated portion of the Rent actually received by Seller for the month in which Closing a termination of this RENTAL AGREEMENT occurs. At ClosingOwner may change the monthly Rent or other charges, as well as any other term of this RENTAL AGREEMENT, which change or changes, will become effective the month following written notice to Occupant from Owner detailing the change, the written notice shall be given at least 30 days prior to the extent actually received date in which the change will take effect. The notice will be by Seller prior to Closingfirst-class mail or by e-mail at either the postal or e-mail address stated in this RENTAL AGREEMENT. The new rent shall become effective on the next date rent is due. If Occupant has made advanced rental payments, Seller the new rent will be charged against such payments, effective upon giving notice of the new rate. Any such adjustment in the monthly rent shall pay to Buyer any not otherwise affect the terms of this RENTAL AGREEMENT and all prepaid Rent relating other terms of this RENTAL AGREEMENT shall remain in full force and effect. Is there a lien on any items stored? (If yes, Lien Addendum is required) Yes No Is a vehicle or pertaining to craft (ie: automobile, motorcycle, snow mobile, trailer, boat, etc. )that requires state registration or licensing being stored? (If yes, Vehicle Addendum is required) Yes No Is Occupant a service member in the Property. military? (If Seller receives payment for Rent after Closingyes, Seller shall immediately pay to Buyer the portion of such payment which relates to the period on and after the Closing DateMilitary I.D. is required, and any portion of such payment which relates to the period prior to Closing which was credited to Seller at Closing. Annual Rent increases pursuant to the Leases are to be paid through the day preceding the Closing Date; providedMilitary Addendum is required) Yes No Is Occupant a business? (If yes, however, that if this transaction Closes, Buyer will receive a Rent credit at Closing equal to the annual Rent increases beginning November 1, 2016 through the day preceding the Closing Date, which the parties shall Prorate for the month in which Closing occurs. Any Capital Expenditures Obligation (as defined in the LeasesBusiness Addendum is required) of Seller, as landlord, pursuant to the Leases with respect to an annual $350 per unit allowance toward payment or reimbursement of Capital Expenditures (as defined in the Leases) made by Tenant shall be paid by Seller through December 31, 2016, with any unused portion on any Property for the year 2016 to be applied as a credit to the Consideration allocated for that Property at Closing. If this transaction Closes, percentage rent under the Leases for the year 2016 (if any) shall accrue through October 31, 2016 and shall be paid to Seller at Closing; provided that Buyer shall provide to Seller all information and documents necessary to calculate any such percentage rent no later than December 15, 2016, with such calculation to be an amount mutually agreed upon by Seller and Buyer prior to Closing.Yes No

Appears in 1 contract

Samples: Rental Agreement

Rent. Lessee shall pay to Lxxxxx at 300 0xx Xxxxxx XX, Xxxxxxxxx, XX, or at such other address as Lessor may from time to time designate, without prior demand, in monthly installments in advance on the first day of each calendar month, the Base Rent hereinafter set forth: Year Base Rent Estimated Additional Rent Monthly Rent 1 2019 $2,300 $1111 $3,411 2 2020 $2,369 $1145 $3,513 The parties shall Prorate all Rent actually received by Seller annual Base Rental Rate as outlined below (“Base Rate”) with a subsequent 3% yearly increase for the term of this lease as follows: In any subsequent Lease Year during the term of this lease the base rent shall be subject to adjustment at the commencement of each Lease Year and shall be three percent (3%) over the prior year Base Rent. Lessee shall pay to Lessor the monthly Base Rent and Additional Rent (hereinafter defined) in advance on the first day of each calendar month, without notice, deduction, or set-off, such monthly installment to be prorated for any partial calendar month in which Closing occursLessee is obligated to pay Rent. At ClosingAll amounts (unless otherwise provided herein) other than the Base Rent owed by Lessee to Lessor hereunder shall be deemed “Additional Rent.” Base Rent and Additional Rent shall be collectively referred to herein as “Rent.” Except as otherwise provided in this Lease, to it is the extent actually received by Seller prior to Closingintention of the parties that Lessor shall receive the Base Rent, Seller shall pay to Buyer any Additional Rent, and all prepaid Rent relating or pertaining sums payable by Lessee under this Lease free of all taxes, expenses, charges, damages and deductions of any nature whatsoever (except as otherwise provided hereinafter) and Lessee covenants and agrees to pay all sums (including rent taxes) which except for this Lease would have been chargeable against the PropertyPremises and payable by Lessor. If Seller receives payment for Rent after Closing, Seller shall immediately pay to Buyer the portion of such payment which relates to the period on and after the Closing Date, and any portion of such payment which relates to the period prior to Closing which was credited to Seller at Closing. Annual Rent increases pursuant to the Leases are to be paid through the day preceding the Closing Date; providedThe Lessee shall, however, that if be under no obligation to pay principal or interest on any mortgage on the fee of the Premises, any franchise or income tax payable by Lessor or any other tax imposed upon or measured by Lessor’s income or profits, or any gift, inheritance, transfer, estate, or succession tax by reason of any present or future law which may be enacted during the Term of this transaction ClosesLease, Buyer will receive a Rent credit at Closing equal subject to the annual provisions of Section 7 herein. No payment by Lessee or receipt by Lessor of a lesser amount than the Rent increases beginning November 1, 2016 through the day preceding the Closing Date, which the parties shall Prorate for the month in which Closing occurs. Any Capital Expenditures Obligation (as defined in the Leases) of Seller, as landlord, pursuant to the Leases with respect to an annual $350 per unit allowance toward payment or reimbursement of Capital Expenditures (as defined in the Leases) made by Tenant stipulated herein shall be paid by Seller through December 31deemed to be other than on account of the earliest stipulated Rent, 2016, with nor shall any unused portion endorsement or statement on any Property for check or any letter accompanying any check or payment as Rent be deemed an accord and satisfaction, and Lessor may accept such check or payment without prejudice to Lessor’s right to recover the year 2016 to be applied as a credit to the Consideration allocated for that Property at Closing. If balance of such Rent or pursue any other remedy in this transaction Closes, percentage rent under the Leases for the year 2016 (if any) shall accrue through October 31, 2016 and shall be paid to Seller at Closing; provided that Buyer shall provide to Seller all information and documents necessary to calculate any such percentage rent no later than December 15, 2016, with such calculation to be an amount mutually agreed upon by Seller and Buyer prior to ClosingLease provided.

Appears in 1 contract

Samples: Lease (BioSig Technologies, Inc.)

Rent. The parties shall Prorate all Rent actually received by Seller for A. During each calendar year (excluding the month in which Closing occurs. At ClosingBase Year), to or portion thereof, falling within the extent actually received by Seller prior to ClosingLease Term, Seller Tenant shall pay to Buyer Landlord as Additional Base Rental hereunder Tenant's Pro Rata Share of the amount, if any, by which Basic Costs for the applicable calendar year exceed the Basic Costs for the Base Year (the "Excess"). In the event that Basic Costs in any calendar year decrease below the amount of Basic Costs for the Base Year, Tenant's Pro Rata Share of Basic Costs for such calendar year shall be deemed to be $0, it being understood that Tenant shall not be entitled to any credit or offset if Basic Costs decrease below the corresponding amount for the Base Year. Prior to January 1, 1997 and all prepaid Rent relating prior to January 1 of each subsequent calendar year during the Lease Term, or pertaining as soon thereafter as practical, Landlord shall make a good faith estimate of the Excess for the applicable calendar year. On or before the first day of each month during such calendar year, Tenant shall pay to Landlord, as Additional Base Rental, a monthly installment equal to one-twelfth of Tenant's Pro Rata Share of Landlord's estimate of the PropertyExcess. Landlord shall have the right from time to time during any such calendar year to revise the estimate of the Excess for such year and provide Tenant with a revised statement therefor, and thereafter the amount Tenant shall pay each month shall be based upon such revised estimate. If Seller receives payment Landlord does not provide Tenant with an estimate of the Excess by January 1 of any calendar year, Tenant shall continue to pay a monthly installment based on the previous year's estimate until such time as Landlord provides Tenant with an estimate of the Excess for Rent after Closing, Seller shall immediately pay to Buyer the portion current year. Upon receipt of such payment current year's estimate, an adjustment shall be made for any month during the current year with respect to which relates to Tenant paid monthly installments of Additional Base Rental based on the period on previous year's estimate of the Excess. Tenant shall pay Landlord for any underpayment within thirty (30) days after demand. Any overpayment shall be credited against the installment of Base Rental and after Additional Base Rental due for the Closing Date, and any portion months immediately following the furnishing of such payment which relates estimate. Any amounts paid by Tenant based on Landlord's estimate of the Excess shall be subject to the period prior to Closing which was credited to Seller at Closing. Annual Rent increases adjustment pursuant to the Leases immediately following paragraph when actual Basic Costs are determined for such calendar year. As soon as is practical following the end of each calendar year during the Lease Term, Landlord shall furnish to be Tenant a statement of Landlord's actual Basic Costs and the actual Excess for such previous calendar year, provided that Landlord shall use good faith efforts to provide Tenant with such statement on or before April 15th of each such calendar year. If the estimated Excess actually paid through by Tenant for the day preceding prior year is in excess of Tenant's actual Pro Rata Share of the Closing Date; providedExcess for such prior year, howeverthen Landlord shall apply such overpayment against Base Rental and Additional Base Rental due or to become due hereunder, that provided if this transaction Closes, Buyer will receive a Rent credit at Closing equal the Lease Term expires prior to the annual determination of such overpayment, Landlord shall refund such overpayment to Tenant after first deducting the amount of any Rent increases beginning November 1due hereunder. Likewise, 2016 through the day preceding the Closing DateTenant shall pay to Landlord, which the parties shall Prorate for the month in which Closing occurs. Any Capital Expenditures Obligation within thirty (as defined in the Leases30) of Sellerdays after demand, as landlord, pursuant to the Leases any underpayment with respect to an annual $350 per unit allowance toward payment the prior year, whether or reimbursement of Capital Expenditures (as defined in not the Leases) made Lease has terminated prior to receipt by Tenant of a statement for such underpayment, it being understood that this clause shall be paid by Seller through December 31survive the expiration of the Lease. Within sixty (60) days after written request from Tenant from time to time (but not more than one time per year), 2016, Landlord shall provide Tenant with any unused portion on any Property a detailed statement containing a breakdown of the various categories of Expenses for the Base Year and the calendar year 2016 for which Landlord's statement is being issued, provided that Landlord shall not be required to be applied as provide Tenant with a credit to the Consideration allocated for that Property at Closing. If this transaction Closes, percentage rent under the Leases detailed statement for the year 2016 Base Year more than three (if any3) shall accrue through October 31, 2016 and shall be paid to Seller at Closing; provided that Buyer shall provide to Seller all information and documents necessary to calculate any such percentage rent no later than December 15, 2016, with such calculation to be an amount mutually agreed upon by Seller and Buyer prior to Closingyears after the Commencement Date.

Appears in 1 contract

Samples: Office Lease Agreement (First Capital Income Properties LTD Series Xi)

Rent. The parties On the date that Tenant executes this Lease, Tenant shall Prorate all deliver to Landlord the original executed Lease, the sum of $121,854.57, which amount equals the Base Rent, the estimated Operating Expenses and Early Occupancy Rent actually received by Seller for the first month of the Term of the Lease (the "Advanced Rent") (which Advanced Rent shall be applied against the Rent payable for the first month Tenant is required to pay Base Rent), the Letter of Credit (defined below) and all insurance certificates evidencing the insurance required to be obtained by Tenant under Section 13 of this Lease and under the provisions of Exhibit B hereto. Tenant agrees to pay Landlord, without prior notice or demand, or abatement, offset, deduction or claim (except as otherwise set forth in Section 28 hereof), the Base Rent specified in the Basic Lease Information (including any Amortized Excess TI Costs) and the Early Occupancy Rent (defined below), payable in advance at Landlord's address specified in the Basic Lease Information on the actual Commencement Date and thereafter on the first (1st) day of each month throughout the balance of the Term of this Lease after first giving Tenant credit for the Advanced Rent. In addition to the Base Rent set forth in the Basic Lease Information (including any Amortized Excess TI Costs) and the Early Occupancy Rent (defined below), Tenant shall pay Landlord in advance on the actual Commencement Date and thereafter on the first (1st) day of each month throughout the balance of the Term of this Lease, as Additional Rent, the Administrative Expenses, Operating Expenses and Tax Expenses, after first giving Tenant credit for the Advanced Rent. The term "Rent" whenever used herein refers to the aggregate of all these amounts. The Rent for any fractional part of a calendar month at the commencement or termination of the Lease term shall be a prorated amount of the Rent for a full calendar month based upon a thirty (30) day month. The prorated Rent for the last calendar month of the Term of this Lease shall be paid on the first day of the calendar month in which Closing the date of termination or expiration occurs. At Closing, to the extent actually received by Seller prior to Closing, Seller shall pay to Buyer any and all prepaid Rent relating or pertaining to the Property. If Seller receives payment for Rent after Closing, Seller shall immediately pay to Buyer the portion of such payment which relates to the period on and after the Closing Date, and any portion of such payment which relates to the period prior to Closing which was credited to Seller at Closing. Annual Rent increases pursuant to the Leases are to be paid through the day preceding the Closing Date; provided, however, that if this transaction Closes, Buyer will receive a Rent credit at Closing equal to the annual Rent increases beginning November 1, 2016 through the day preceding the Closing Date, which the parties shall Prorate for the month in which Closing occurs. Any Capital Expenditures Obligation (as defined in the Leases) of Seller, as landlord, pursuant to the Leases with respect to an annual $350 per unit allowance toward payment or reimbursement of Capital Expenditures (as defined in the Leases) made by Tenant shall be paid by Seller through December 31, 2016, with any unused portion on any Property for the year 2016 to be applied as a credit to the Consideration allocated for that Property at Closing. If this transaction Closes, percentage rent under the Leases for the year 2016 (if any) shall accrue through October 31, 2016 and shall be paid to Seller at Closing; provided that Buyer shall provide to Seller all information and documents necessary to calculate any such percentage rent no later than December 15, 2016, with such calculation to be an amount mutually agreed upon by Seller and Buyer prior to Closing.

Appears in 1 contract

Samples: Lease Agreement (Webvan Group Inc)

Rent. The parties shall Prorate all Rent actually received by Seller for Starting on the month in which Closing occurs. At Closing, to the extent actually received by Seller prior to Closing, Seller shall pay to Buyer any and all prepaid Rent relating or pertaining to the Property. If Seller receives payment for Rent after Closing, Seller shall immediately pay to Buyer the portion of such payment which relates to the period on and date that is 30 days after the Closing DateTerm Commencement Date and on the first day of every month thereafter, Tenant will pay rent in advance a total annual rental of Twenty-Two Thousand, Two Hundred and any portion of such payment which relates to the period prior to Closing which was credited to Seller at Closing. Annual Rent increases pursuant to the Leases are 00/100 Dollars ($22,200) to be paid through in equal monthly installments. (“Rent”). Beginning on the first anniversary of the Commencement Date and continuing throughout the term of this Agreement, including any extensions or additional extensions, the annual rental due herein shall increase by 2% over the annual rental due during the immediately preceding year. Rent for any partial months will be prorated based upon a 30-day preceding month. If upon expiration of the Closing Date; providedTerm the Parties are negotiating a new lease or a lease extension, howeverthen this Agreement shall continue during such negotiations on a month to month basis at the rental in effect as of the date of the expiration of the Term. In the event that the Parties are not in the process of negotiating a new lease or lease extension and Tenant holds over after the expiration or earlier termination of the Term, that then Tenant shall pay rent at the then existing monthly rate or on the existing monthly pro-rata basis if based upon a longer payment term, until the removal of the communications equipment is completed. Notwithstanding anything contained in this transaction ClosesSection, Buyer Tenant’s obligation to pay Rent is contingent upon Tenant’s receipt of an IRS approved W-9 form setting forth the tax identification number of Landlord or of the person or entity to whom Rent is to be made payable as directed in writing by Landlord. Rent will be sent to Landlord pursuant to Landlord’s electronic enrollment as described below. Landlord hereby agrees to receive a Rent credit at Closing equal payments electronically using Tenant’s designated electronic platform unless an alternative payment method is agreed to in writing by the parties. Landlord agrees to enroll for electronic payment no less than thirty (30) days prior to the annual Rent increases beginning November 1, 2016 through due date of the day preceding first payment. All of Tenant’s payment obligations set forth in this Agreement are conditioned upon Landlord’s timely enrollment for electronic payment. Landlord may obtain electronic payment enrollment forms by contacting Tenant’s “Landlord Solutions” department at 000-000-0000 or by submitting a ticket for direct deposit via the Closing Date, which the parties shall Prorate for the month in which Closing occurs. Any Capital Expenditures Obligation (as defined in the Leases) of Seller, as landlord, pursuant to the Leases with respect to an annual $350 per unit allowance toward payment or reimbursement of Capital Expenditures (as defined in the Leases) made by Tenant shall be paid by Seller through December 31, 2016, with any unused portion on any Property for the year 2016 to be applied as a credit to the Consideration allocated for that Property landlord portal at Closing. If this transaction Closes, percentage rent under the Leases for the year 2016 (if any) shall accrue through October 31, 2016 and shall be paid to Seller at Closing; provided that Buyer shall provide to Seller all information and documents necessary to calculate any such percentage rent no later than December 15, 2016, with such calculation to be an amount mutually agreed upon by Seller and Buyer prior to Closing.xxxxx://xxxxxxxxxxxxxxxxx.xxxxxx.xxx/

Appears in 1 contract

Samples: Site Agreement

Rent. The parties All obligations of Tenant to make payments to Landlord under this Lease shall Prorate all constitute Rent. Tenant shall pay the Rent actually received at the times and in the manner hereinafter set forth. During the Term, Tenant shall pay the Gross Rent, consisting of Net Rent and Tenant’s Proportionate Share of Estimated Operating Cost and Estimated Impositions, in twelve (12) equal installments on the first day of each calendar month during each year of the Term and any extensions thereof. Such payments shall be made in lawful money of the United States, in advance without demand, and (except as expressly provided herein) without any reduction, abatement, counterclaim or set off, at the address for Landlord specified on the Basic Lease Information sheet or at such other address as may be designated by Seller Landlord from time to time. Notwithstanding the foregoing, Gross Rent shall be abated for the month in which Closing occurs. At Closing, to first three (3) months immediately following the extent actually received by Seller prior to Closing, Seller shall pay to Buyer any and all prepaid Rent relating or pertaining to the Property. If Seller receives payment for Rent after Closing, Seller shall immediately pay to Buyer the portion of such payment which relates to the period on and after the Closing Date, and any portion of such payment which relates to the period prior to Closing which was credited to Seller at Closing. Annual Rent increases pursuant to the Leases are to be paid through the day preceding the Closing Term Commencement Date; provided, however, that, in the event of an Event of Default, Tenant shall pay to Landlord a fractional portion of the amount of such abated Gross Rent, in the ratio that if this transaction Closes, Buyer will receive a Rent credit at Closing equal to (x) the annual Rent increases beginning November 1, 2016 number of full or partial months from the date of default through the originally scheduled Term Expiration Date (without regard to extension under Section 9.01 and not to exceed sixty months) bears to (y) sixty (60) months. (Payment of Additional Rent shall commence on the Term Commencement Date.) If such rent abatement period expires on a day preceding that is not the Closing Datelast day of a calendar month, which the parties shall Prorate Gross Rent due for the portion of such month in which Closing occurs. Any Capital Expenditures Obligation (as defined in following such expiration of the Leases) of Seller, as landlord, pursuant to the Leases with respect to an annual $350 per unit allowance toward payment or reimbursement of Capital Expenditures (as defined in the Leases) made by Tenant rent abatement period shall be prorated on a per diem basis and paid by Seller through December 31, 2016, with any unused portion on any Property for the year 2016 to be applied as a credit to the Consideration allocated for that Property at Closingfirst day of such month. If this transaction Closesthe Term terminates on other than the last day of a calendar month, percentage rent under the Leases then Gross Rent provided for the year 2016 (if any) shall accrue through October 31, 2016 and such partial month shall be paid to Seller at Closing; provided that Buyer shall provide to Seller all information and documents necessary to calculate any equitably prorated on such percentage rent no later than December 15, 2016, with such calculation to be an amount mutually agreed upon by Seller and Buyer prior to Closingdate of termination.

Appears in 1 contract

Samples: NewStar Financial, Inc.

Rent. All sums required to be paid by Tenant under this Lease constitute "rent." The parties term "rent" or "rental", when used in this instrument, includes Base Rent and all other sums payable hereunder. Tenant's rent payments shall Prorate all Rent actually be made to Landlord at Landlord's address stated above, or at any other address that Landlord may specify. Landlord shall provide Tenant written notice of any change of address at least thirty (30) business days prior to the due date of any rent payments to be made at any address other than that stated above. No payment made by Tenant or received by Seller for Landlord in an amount less than the amount herein stipulated shall be deemed to be other than a partial payment, nor shall any endorsement or statement on any check or any letter accompanying any check or payment as rent or any other sum payable hereunder be deemed an accord and satisfaction, and Landlord may accept any such check or payment without prejudice to Landlord's right to recover the balance of such amount from Tenant or to pursue any other remedy in this Lease or by law provided. Beginning with the Commencement Date and continuing thereafter until the expiration of the Term (as the same may be extended), Tenant agrees to pay Landlord the Base Rent provided above in advance, without notice or demand, every month during the Term of this Lease. If any monthly Base Rent payment is not received by Landlord by the first day of the month in which Closing occurssuch rent payment was due, Tenant shall pay, as additional rent, $25 for each day such payment is late, and such late charge shall be due upon receipt of Landlord's written demand. At ClosingNotwithstanding the foregoing sentence, three (3) times in any twelve (12) consecutive months Tenant shall not be required to pay $25.00 for the extent actually received by Seller prior to Closingfirst two (2) days that a payment is late. However, Seller the $25.00 payment shall apply after the first two (2) days in all circumstances and shall apply after three (3) notices have been given in any calendar year. Tenant shall also pay to Buyer Landlord, upon demand, $100.00 for each check tendered to Landlord in payment of rent or any and all prepaid Rent relating or pertaining to the Property. If Seller receives other payment for Rent after Closing, Seller shall immediately pay to Buyer the portion of such payment which relates to the period on and after the Closing Date, and any portion of such payment which relates to the period prior to Closing which was credited to Seller at Closing. Annual Rent increases pursuant to the Leases are to be paid through the day preceding the Closing Date; provided, however, that if this transaction Closes, Buyer will receive a Rent credit at Closing equal to the annual Rent increases beginning November 1, 2016 through the day preceding the Closing Datedue Landlord hereunder, which the parties shall Prorate for the month in which Closing occursis returned uncollectible to Landlord. Any Capital Expenditures Obligation (as defined in the Leases) of Seller, as landlord, pursuant to the Leases with respect to an annual $350 per unit allowance toward payment or reimbursement of Capital Expenditures (as defined in the Leases) made by Tenant All Base Rent shall be paid by Seller through December 31, 2016, with prorated for any unused portion on any Property for the year 2016 to be applied as a credit to the Consideration allocated for that Property at Closing. If this transaction Closes, percentage rent under the Leases for the year 2016 (if any) shall accrue through October 31, 2016 and shall be paid to Seller at Closing; provided that Buyer shall provide to Seller all information and documents necessary to calculate any such percentage rent no later than December 15, 2016, with such calculation to be an amount mutually agreed upon by Seller and Buyer prior to Closingpartial month.

Appears in 1 contract

Samples: , 1999 Lease (Carpenter W R North America Inc)

Rent. The parties For purposes of this Lease, each successive period of twelve (12) months during the Lease Term commencing on the Commencement Date shall Prorate all Rent actually received by Seller be a “Lease Year”. As consideration of and for this Lease and the month in which Closing occurs. At ClosingPremises, to commencing on the extent actually received by Seller prior to ClosingCommencement Date, Seller Tenant shall pay to Buyer any and all prepaid Rent relating or pertaining Landlord an initial net annual rental equal to the Propertysum of $24.00 per square foot with respect to 9,049 square feet of Tenant’s Premises located at Suite # 3100 as reflected on Exhibit A (collectively, the “Rent”) for the first Lease Year. If Seller receives payment for Rent after Closingwill be adjusted on the first day of each successive Lease Year thereafter (each such date an “Adjustment Date”) to reflect the increase, Seller shall immediately pay to Buyer if any, in the portion cost of such payment living from the month and year in which relates to the period on and after the Closing Date, and any portion of such payment which relates to the period prior to Closing which was credited to Seller at Closing. Annual Rent increases pursuant to the Leases are to be paid through the day preceding the Closing DateCommencement Date occurs; provided, however, that if Rent for any Lease Year shall not increase by more than 2% over the Rent in effect for the immediately preceding Lease Year. In no event shall the annual rent due after the Adjustment Date ever be a sum which is less than the annual rent due before the Adjustment Date. The annual rent due as a result of an increase in the cost of living shall be calculated in accordance with the calculation set forth in this transaction ClosesSection 3.01. The basis for computing the cost of living shall be the unadjusted Consumer Price Index for all Urban Consumers, Buyer will receive a All Items (1982-84 = 100) published by the Bureau of Labor Statistics of the United States Department of Labor (“Index”). The Index for the month and year in which the Commencement Date occurs shall be the “Base Index Number”. The Index for the month immediately preceding the Adjustment Date shall be the “Current Index Number”. The annual Rent credit at Closing for each Lease Year commencing with the second Lease Year shall be the greater of (i) the annual Rent then in effect immediately prior to the Adjustment Date, and (ii) the product obtained from multiplying the amount of annual rent in effect prior to the applicable Adjustment Date by the fraction whose numerator is equal to the annual Current Index Number and whose denominator is equal to the Base Index Number. Adjusted Annual Rent increases beginning November 1= Annual Rent Prior to Adjustment Date x Current Index Number Base Index Number If the aforesaid Index is not in existence at the time the determination is to be made, 2016 through the day preceding the Closing Date, which the parties shall Prorate for use such equivalent price index as is published by a successor government agency in lieu of the month in which Closing occurs. Any Capital Expenditures Obligation (Index; or if no such price index is published, then the parties shall use a mutually acceptable equivalent price index as defined in the Leases) of Seller, as landlord, pursuant to the Leases with respect to an annual $350 per unit allowance toward payment or reimbursement of Capital Expenditures (as defined in the Leases) made is published by Tenant shall be paid by Seller through December 31, 2016, with any unused portion on any Property for the year 2016 to be applied as a credit to the Consideration allocated for that Property at Closing. If this transaction Closes, percentage rent under the Leases for the year 2016 (if any) shall accrue through October 31, 2016 and shall be paid to Seller at Closing; provided that Buyer shall provide to Seller all information and documents necessary to calculate any such percentage rent no later than December 15, 2016, with such calculation to be an amount mutually agreed upon by Seller and Buyer prior to Closingnon-governmental agency.

Appears in 1 contract

Samples: Hudsonalpha Lease Agreement (Celsion CORP)

Rent. The parties shall Prorate all Rent actually received by Seller for the month in which Closing occurs6. At Closing, to the extent actually received by Seller prior to Closing, Seller Tenant shall pay to Buyer Landlord, or with Landlord’s consent directly to Primary Landlord, as the base rent for the Premises (the “Base Rent”) the amount set in Section 1(i), subject to adjustment as hereinafter provided. Nothing contained herein shall be construed at any time so as to reduce the Base Rent payable hereunder below the amount set forth above. Base Rent shall be adjusted in accordance with the following provisions (any such adjustment hereinafter the “Base Rent Adjustment”). Base Rent includes a 2008 base year attributable to Base Operating Expenses as specified in Section 1(h) (“Base Operating Expenses”). In the event actual Operating Expenses are below Base Operating Expenses, Tenant shall not be entitled to any credit or offset in any manner. Upon receipt of Primary Landlord’s estimate, Landlord shall provide Tenant with an estimate of Operating Expenses for the 2009 calendar year and all prepaid Rent relating or pertaining to each subsequent calendar year in the PropertyTerm (each, an “Operating Period”). If Seller receives payment Operating Expenses (exclusive of Taxes) per square foot of Rentable Area of the Premises during the 2009 Operating Period or each subsequent Operating Period, as estimated by Primary Landlord, exceed Base Operating Expenses (exclusive of Taxes), Tenant shall pay Base Rent for Rent after Closing, Seller shall immediately pay to Buyer the portion of such payment which relates to the period on and after the Closing Date, and any portion of such payment which relates to the period prior to Closing which was credited to Seller at Closing. Annual Rent increases pursuant to the Leases are to be paid through the day preceding the Closing Date; provided, however, that if this transaction Closes, Buyer will receive a Rent credit at Closing Operating Period equal to the annual Base Rent increases beginning November 1, 2016 through the day preceding the Closing Date, which the parties shall Prorate for the month in which Closing occurs. Any Capital Expenditures Obligation (as defined in the Leases) of Seller, as landlord, pursuant set forth above adjusted upward by an amount equal to the Leases product of (i) the difference between Operating Expenses per square foot of Rentable Area of the Premises for such Operating Period and the Base Operating Expenses, multiplied by (ii) the Rentable Area of the Premises. The Base Rent Adjustment for 2009 shall not exceed 105% of the Base Operating Expenses. Thereafter, the Base Rent Adjustment shall not exceed 105% of the prior year’s Operating Expenses. This annual 5% limitation shall not apply to insurance or utilities. Landlord shall pay any Base Rent Adjustment attributable to Taxes and any special assessments paid in lieu of taxes that are in excess of the 2008 base year attributable to Taxes. Landlord shall, within thirty (30) days after receipt by Primary Landlord, furnish Tenant with respect a statement of the Base Operating Expenses and Operating Expenses during each subsequent Operating Period as well as a computation of the Base Rent Adjustment each as received by Landlord without adjustment of any type (“Expense Statement”). Except as provided herein, failure of Landlord to an annual $350 per unit allowance toward payment or reimbursement provide such statement within said time period shall not be a waiver of Capital Expenditures (as defined in Landlord’s right to collect any Base Rent Adjustment. If such statement shows that the Leases) made actual amount Tenant owes is more than the estimated Base Rent Adjustment paid by Tenant, Tenant shall be pay the difference within thirty (30) days after delivery of the Expense Statement. If the Expense Statement shows that Tenant paid by Seller through December 31more than the actual amount owed, 2016, with any unused portion on any Property for the year 2016 to be applied as Tenant shall receive a credit to therefor within thirty (30) days after delivery of the Consideration allocated for that Property at ClosingExpense Statement. If this transaction Closes, percentage rent under the Leases for the year 2016 (if any) shall accrue through October 31, 2016 and shall be paid to Seller at Closing; provided that Buyer shall provide to Seller all information and documents necessary to calculate any such percentage rent no later than December 15, 2016, with such calculation to be an amount mutually agreed upon by Seller and Buyer prior to Closing.OPERATING EXPENSES

Appears in 1 contract

Samples: Sublease Agreement (GTX Inc /De/)

Rent. The parties shall Prorate all Rent actually received by Seller rent under this Sublease for the month Term shall consist of a fixed rent in which Closing occursthe amount set forth in Paragraph 6 hereof (sometimes hereinafter call the “Rent”). At ClosingThe Sublessee covenants and agrees to pay this Rent to WRIT, the Principal Landlord, in lawful money of the United States, at the times and in the manner hereinafter specified. The Rent includes all utilities, including electric, HVAC, and plumbing, and building services, including cleaning, and taxes. The Sublessor agrees to timely meet its obligations to WRIT, the Principal Landlord, including the timely payment of any rent or other moneys owed to the extent actually received by Seller prior to Closing, Seller shall pay to Buyer any and all prepaid Rent relating or pertaining Principal Landlord under the underlying Lease in addition to the Propertyamount being paid by the Sublessee. The Sublessor agrees that if WRIT advises the Sublessee that the Sublessor is not current with its payments to WRIT, or otherwise is not in compliance with its underlying Lease obligations, that the Sublessee may in its sole discretion make any such payments directly to WRIT, or may terminate this Lease, and such action shall not relieve the Sublessor of its obligations to the Sublessee. If Seller receives payment utilities and/or services are interrupted for more than thirty (30) consecutive business days, Rent after Closingwill xxxxx (Rent, Seller however, will xxxxx sooner for the Sublessee, if rent abates sooner for the Sublessor under its underlying Lease), and if such condition exists, without being cured, for a total of forty-five (45) calendar days, the Sublessee may terminate this Sublease, and if so terminated no Rent shall immediately be due from the start of the interruption and going forward. Similarly, if all or part of the Sublease Premises is damaged by fire or other casualty or is untenantable and is not repaired by the Principal Landlord or Sublessor within ten (10) business days, Rent will xxxxx, and if such condition exists without being cured, for a total of forty-five (45) calendar days, the Sublessee may terminate this Sublease, and if so terminated no Rent shall be due from the date of the fire or other casualty or untenantability. (Sublessor shall be required to pay to Buyer Rent only for the portion of such payment which relates to the period on and after the Closing Date, and any portion of such payment which relates to the period prior to Closing which was credited to Seller at Closing. Annual Rent increases pursuant to the Leases are to be paid through the day preceding the Closing Date; provided, however, Sublease Premises that if this transaction Closes, Buyer will receive a Rent credit at Closing equal to the annual Rent increases beginning November 1, 2016 through the day preceding the Closing Date, which the parties shall Prorate for the month in which Closing occurs. Any Capital Expenditures Obligation (as defined in the Leases) of Seller, as landlord, pursuant to the Leases with respect to an annual $350 per unit allowance toward payment or reimbursement of Capital Expenditures (as defined in the Leases) made by Tenant shall be paid by Seller through December 31, 2016, with any unused portion on any Property for the year 2016 to be applied as a credit to the Consideration allocated for that Property at Closing. If this transaction Closes, percentage rent under the Leases for the year 2016 (if any) shall accrue through October 31, 2016 and shall be paid to Seller at Closing; provided that Buyer shall provide to Seller all information and documents necessary to calculate any such percentage rent no later than December 15, 2016, with such calculation to be an amount mutually agreed upon by Seller and Buyer prior to Closingis usable while repair is made.)

Appears in 1 contract

Samples: Sublease Agreement (Novastar Resources Ltd.)

Rent. The parties shall Prorate all Rent actually received by Seller for the month in which Closing occurs. At Closing, Subject to the extent actually received by Seller prior to Closingprovisions of this Section 4.1 concerning Rent Shortfalls, Seller during the Term, Tenant shall pay to Buyer Landlord rent for the Leased Property (“Rent”) in the amount of One Million Two Hundred Fifty-Thousand ($1,250,000.00) per month from the Term Commencement Date until the end of the First Term Year (and subject to adjustment in following Term Years in accordance with the following sentence), which shall be paid for each calendar month during the Term on the last day of such month in arrears. At the beginning of each Term Year, monthly Rent will be increased by five percent (5.0%) over the amount of monthly Rent in effect for the prior Term Year. Rent for any and all prepaid Rent relating partial calendar month shall be prorated on the basis of the number of days in such month falling within the Term divided by the number of days within such calendar month. Notwithstanding any other term or pertaining provision of this Lease to the Property. If Seller receives payment for Rent after Closingcontrary, Seller shall immediately pay to Buyer the portion of such payment which relates if cash flow available to the period on Tenant from the Gaming Operations (after payment of all expenses and after the Closing Datereserves, and including, without limitation, for Tenant’s Taxes) for a month is not sufficient to allow Tenant to pay Rent (or any portion of Rent) for such month, then a shortfall (“Rent Shortfall”) will accrue for such month in the amount by which such cash flow was not sufficient to allow payment which relates of Rent for such month. In the event that a Rent Shortfall accrues for any month, Tenant will send Landlord notice of such Rent Shortfall together with the applicable partial payment of Rent for such month (or, if the Rent Shortfall is in the entire amount of Rent for such month, Tenant will send such notice in lieu of payment of Rent for such month). Tenant agrees to repay accrued Rent Shortfalls that have not previously been paid, without interest, in accordance with Section4.2. Landlord shall maintain a schedule that shall reflect each time that the period prior to Closing which was credited to Seller at Closing. Annual aggregate amount of accrued Rent increases Shortfalls changes (whether increased by accrual pursuant to the Leases are to be paid through the day preceding the Closing Date; provided, however, that if this transaction Closes, Buyer will receive a Rent credit at Closing equal to the annual Rent increases beginning November 1, 2016 through the day preceding the Closing Date, which the parties shall Prorate for the month in which Closing occurs. Any Capital Expenditures Obligation (as defined in the Leases) of Seller, as landlord, Section 4.1 or decreased by payment pursuant to the Leases with respect to an annual $350 per unit allowance toward payment or reimbursement of Capital Expenditures (as defined in the LeasesSection 4.2) made by Tenant shall be paid by Seller through December 31, 2016, with any unused portion on any Property for the year 2016 to be applied as a credit to the Consideration allocated for that Property at Closing. If this transaction Closes, percentage rent under the Leases for the year 2016 (if any) shall accrue through October 31, 2016 and shall be paid to Seller at Closing; provided that Buyer Landlord shall provide the schedule to Seller all information and documents necessary to calculate any such percentage rent no later than December 15, 2016, with such calculation to be an amount mutually agreed Tenant for its review upon by Seller and Buyer prior to Closingrequest.

Appears in 1 contract

Samples: Casino Lease (Bref Hr, LLC)

Rent. The parties Minimum rent shall Prorate all Rent actually received by Seller for the be Thirty Three Thousand Eight Hundred Twenty Five Dollars and 00 Cents ($33,825) per month in which Closing occurs(“Minimum Rent”). At Closing, to the extent actually received by Seller prior to Closing, Seller Tenant shall pay to Buyer Landlord without previous demand thereof and without any abatement, reduction, setoff or deduction whatsoever, the Minimum Rent (together with any applicable sales tax and all prepaid local taxes if the same are ever required by law), payable in equal monthly installments, in advance, on the first day of each and every calendar month throughout the Term of this Lease. The Minimum Rent relating or pertaining shall commence to accrue on the PropertyCommencement Date. If Seller receives payment for The first such monthly installments of Minimum Rent after Closing, Seller shall immediately pay to Buyer the portion of such payment which relates to the period on and after the Closing Date, and any portion of such payment which relates to the period prior to Closing which was credited to Seller at Closing. Annual Rent increases pursuant to the Leases are to be paid through the day preceding the Closing Date; provided, however, that if this transaction Closes, Buyer will receive a Rent credit at Closing equal to the annual Rent increases beginning November 1, 2016 through the day preceding the Closing Date, which the parties shall Prorate for the month in which Closing occurs. Any Capital Expenditures Obligation (as defined in the Leases) of Seller, as landlord, pursuant to the Leases with respect to an annual $350 per unit allowance toward payment or reimbursement of Capital Expenditures (as defined in the Leases) made by Tenant shall be paid by Seller through December 31, 2016, with any unused portion on any Property for the year 2016 due and payable to be applied as a credit to the Consideration allocated for that Property at Closing. If this transaction Closes, percentage rent under the Leases for the year 2016 (if any) shall accrue through October 31, 2016 and shall be paid to Seller at Closing; provided that Buyer shall provide to Seller all information and documents necessary to calculate any such percentage rent Landlord no later than December 15the Commencement Date and each subsequent monthly installment shall be due and payable to Landlord on the first day of each and every calendar month following the Commencement Date during the Term hereof. If the Commencement Date is a date other than the first day of the month, 2016Minimum Rent and other charges for the period commencing with and including the Commencement Date through the first day of the following month shall be prorated at the rate of one-thirtieth (1/30) of the monthly Minimum Rent per day. In addition, with such calculation Tenant shall pay as Additional Rent monthly payments of applicable taxes, assessments and insurance on the Premises. This amount will be 1/12 of the xxxx for annual real estate and assessment taxes and 1/12 of the annual xxxx on insurance. Estimated figures for taxes and insurance monthly rate will be produced within ten (10) days after the signing of this Lease. Each year Landlord will produce any insurance, real estate tax and assessment bills to be an the Tenant to show how the estimated taxes and insurance were computed as Additional Rent. In the event of any overage or underage due to the actual amounts owed and the payments made based on the estimated amounts during any Lease year, Landlord shall reimburse to Tenant the amount mutually agreed upon of any overage paid by Seller and Buyer prior Tenant or Tenant shall pay to ClosingLandlord the amount of any underage due from Tenant in either case within thirty (30) days of the delivery of the bills to Tenant as herein provided.

Appears in 1 contract

Samples: Lease (Radiation Therapy Services Holdings, Inc.)

Rent. The parties Tenant agrees to pay without demand by Xxxxxxxx, and Xxxxxxxx agrees to accept, as rent for the use and occupancy of the premises the sum of dollars ($ ) for the term of this Lease Agreement, payable in advance in 12 equal payments of $ _ on or before the first day of each and every month, commencing . All rent payments to the Landlord shall Prorate all Rent actually be made online through xxx.Xxxxxx.xxx. Failure to pay rent after it is due constitutes a breach of this Rental Agreement. Interest on any outstanding rent and/or penalty, including any amount reduced to a Judgment by a Court of Law, shall be at 18 percent. Furthermore, if rent is not paid in full when it is due, and without demand of the Landlord, the Tenant agrees to pay $20 additional rent for each day the rent is late, until received by Seller the Landlord. If any part of rent is paid by an e-check or credit card that is returned, Xxxxxx agrees to pay a Returned Check Charge in the amount of $75 plus any additional rent for the month in which Closing occurslate rental payment. At Closing, Xxxxxx acknowledges that notification to the extent actually received Landlord by Seller prior the bank of a returned check will be a minimum of one week and that rent is considered unpaid from the first of that month until actual funds are transferred and in the possession of the Landlord. EACH PERSON WHO HAS SIGNED THE LEASE AGREEMENT IS LIABLE FOR THE ENTIRE RENT, NOT JUST HIS/HER PRORATED SHARE THEREOF, AND PAYMENT IS TO BE MADE BY ONE OR ALL THROUGH XXXXXX.XXX. Landlord may report unpaid rent and damages to Closing, Seller shall pay to Buyer any and all prepaid Rent relating or pertaining to a Credit Bureau. Landlord will give Tenant a 60 day notification in writing in the Propertyevent of a change in rent for the next rental period. If Seller receives payment for Rent after ClosingLandlord must bring charges in order to enforce this Lease, Seller shall immediately pay Landlord is entitled to Buyer the portion of such payment which relates all costs, including but not limited to the period on and after the Closing Date, and any portion of such payment which relates to the period prior to Closing which was credited to Seller at Closing. Annual Rent increases pursuant to the Leases are to be paid through the day preceding the Closing Date; provided, however, that if this transaction Closes, Buyer will receive a Rent credit at Closing equal to the annual Rent increases beginning November 1, 2016 through the day preceding the Closing Date, which the parties shall Prorate attorney’s fees and/or other costs or expenses incurred by Landlord for the month in which Closing occurs. Any Capital Expenditures Obligation (as defined in enforcement of or the Leases) collection of Seller, as landlord, pursuant to the Leases with respect to an annual $350 per unit allowance toward payment or reimbursement of Capital Expenditures (as defined in the Leases) made by Tenant shall be paid by Seller through December 31, 2016, with any unused portion on any Property for the year 2016 to be applied as a credit to the Consideration allocated for that Property at Closing. If amounts due under this transaction Closes, percentage rent under the Leases for the year 2016 (if any) shall accrue through October 31, 2016 and shall be paid to Seller at Closing; provided that Buyer shall provide to Seller all information and documents necessary to calculate any such percentage rent no later than December 15, 2016, with such calculation to be an amount mutually agreed upon by Seller and Buyer prior to ClosingRental Agreement.

Appears in 1 contract

Samples: Properties Residential Lease Agreement

Rent. The parties Monthly Rent shall Prorate all be calculated by multiplying the Usable Square Feet of the Premises by the following annual rates and dividing by 12. Year Annual Rate Per Usable Square Foot of the Premises 1 “*” 2 “*” 3 “*” 4 “*” 5 “*” 6 “*” 7 “*” 8 “*” 9 “*” 10 “*” Tenant will pay the Monthly Rent actually received to Lessor at 0000 Xxxx Xxxxxxx Xxxx, Xxxxx, XX 00000, or such other place as Lessor may designate, in advance on the first day of each month during the * Omitted pursuant to a request for condfidential treatment. Term without demand, deduction or setoff, except as specifically provided in Sections 7, 11, 17, 26 and 28 hereof. Monthly Rent will begin on the Commencement Date. If the Term begins on a day other than the first day of a month, the Monthly Rent for that month will be prorated by Seller for multiplying the Monthly Rent by the number of days of that month included in the Term and dividing the product by the number of days in that month. Any Monthly Rent or other amounts payable by Tenant to Lessor under this Lease which Closing occurs. At Closingare not paid within 10 days after written notice from Lessor (which notice may be delivered by Lessor to Tenant via E-mail), will bear interest from the date due to the extent actually received date paid at the rate of 18% per annum or the maximum rate of interest permitted by Seller prior to Closinglaw, Seller shall pay to Buyer any and all prepaid Rent relating or pertaining to the Property. If Seller receives payment for Rent after Closing, Seller shall immediately pay to Buyer the portion of such payment which relates to the period on and after the Closing Datewhichever is less, and any portion of such payment which relates the interest will be paid to the period prior to Closing which was credited to Seller at ClosingLessor on demand. Annual Rent increases pursuant to the Leases are All amounts to be paid through the day preceding the Closing Date; providedby Tenant to Lessor under this Lease will be deemed to be additional rent for purposes of payment and collection. Lessor may from time to time, howeverbut no more than twice per calendar year, that if this transaction Closes, Buyer will receive a Rent credit at Closing equal to the annual Rent increases beginning November 1, 2016 through the day preceding the Closing Date, which the parties shall Prorate estimate in good faith Tenant’s Share of Costs for the month in which Closing occurs. Any Capital Expenditures Obligation (as defined current year and include such estimate in the Leases) monthly installments, and Tenant shall pay such estimated Tenant’s Share of SellerCosts with the monthly installments. Tenant shall not pay any Security Deposit. In addition, as landlord, pursuant to Tenant shall in no event be responsible for the Leases with respect to an annual $350 per unit allowance toward payment or reimbursement of Capital Expenditures any of the following: (as defined a) any costs of any nature incurred by Lessor in connection with obtaining any fee mortgage on the LeasesLand or the Building or any other indebtedness of Lessor, (b) made any debt service payments of Lessor, (c) any costs of any nature incurred by Lessor in connection with the acquisition of the Land or in connection with any sale of the Land or any interest therein, including transfer or similar taxes and fees, (d) any taxes imposed or based on Lessor’s net income, revenue, receipts of any kind and profits, franchise, corporate and capital taxes imposed on it, withholding taxes payable with respect to payments to Lessor, estate, inheritance and succession taxes, and any tax imposed solely because of the nature of Lessor, or (e) any other items listed in Exhibit F hereto. Tenant shall be paid by Seller through December 31, 2016, with pay Tenant’s Share of Costs during any unused portion on any Property for the year 2016 to be applied as a credit early occupancy period prior to the Consideration allocated for that Property at Closing. If this transaction ClosesCommencement Date, percentage rent under the Leases for the year 2016 (if any) but in no event shall accrue through October 31, 2016 and shall Tenant be paid required to Seller at Closing; provided that Buyer shall provide to Seller all information and documents necessary to calculate pay Monthly Rent during any such percentage rent no later than December 15, 2016, with such calculation to be an amount mutually agreed upon by Seller and Buyer prior to Closingearly occupancy period.

Appears in 1 contract

Samples: Spectrum Commerce Center (Mesaba Holdings Inc)

Rent. The current rent payable by the tenant for the occupation of the rented premises in the Primary Tenancy Agreement is: (insert the amount of rent paid by the tenant before this AGREEMENT commences) $ weekly / fortnightly / monthly (cross out whichever does not apply) The parties shall Prorate all Rent actually received agree that on and from the date of this AGREEMENT, the rent payable by Seller the tenant for the month occupation of the rented premises will be: (insert the amount of rent that the tenant and landlord agree for the occupation of the rented premises – this should be less than the amount of rent currently being paid by the tenant) $ weekly / fortnightly / monthly (cross out whichever does not apply) Ongoing obligations in which Closing occurs. At Closingrelation to rent The parties agree that— after the expiry of this AGREEMENT, to the extent actually received by Seller prior to Closing, Seller shall pay to Buyer any and all prepaid Rent relating or pertaining to tenant(s) have paid the Property. If Seller receives payment for Rent after Closing, Seller shall immediately pay to Buyer full amount of the portion of such payment which relates to rent owing under the Primary Tenancy Agreement during the period on and after that this AGREEMENT applies to reduce that amount; the Closing Date, and expiry of this AGREEMENT does not revive any portion obligation to pay any amount of such payment which relates to the period prior to Closing which was credited to Seller at Closing. Annual Rent increases pursuant to the Leases are to be paid through the day preceding the Closing Date; provided, however, that if this transaction Closes, Buyer will receive a Rent credit at Closing equal to the annual Rent increases beginning November 1, 2016 through the day preceding the Closing Date, which the parties shall Prorate for the month in which Closing occurs. Any Capital Expenditures Obligation (as defined in the Leases) of Seller, as landlord, pursuant to the Leases with respect to an annual $350 per unit allowance toward payment or reimbursement of Capital Expenditures (as defined in the Leases) made by Tenant shall be paid by Seller through December 31, 2016, with any unused portion on any Property for the year 2016 to be applied as a credit to the Consideration allocated for that Property at Closing. If this transaction Closes, percentage rent under the Leases Primary Tenancy Agreement that exceeds the amount payable under this AGREEMENT for the year 2016 duration of this AGREEMENT; and rent payable after the expiry of this AGREEMENT (if any) shall accrue through October 31is subject to the terms of the Primary Tenancy Agreement. Period of this agreement This AGREEMENT commences on: / / (insert start date) (This is either the date that the parties agree that a reduced amount of rent is payable, 2016 and shall or the date that the reduced amount must first be paid to Seller at Closing; provided paid) This AGREEMENT will end on: / / (insert end date) (This is the date that Buyer shall provide to Seller all information and documents necessary to calculate any such percentage the reduced rent no later than December 15agreed in clause 5 will cease. This can be the end of the fixed term tenancy, 2016, with such calculation to be an amount mutually or for the period agreed upon by Seller and Buyer prior to Closing.between the parties)

Appears in 1 contract

Samples: Rent Reduction Agreement

Rent. The parties shall Prorate all Annual Gross Rent actually received by Seller for the month Premises shall be: PHASE I: $16.25 per RSF PHASE II: $15.50 RSF for the first 18,047 RSF and $16.25 RSF for space in which Closing occursexcess of 18,047 RSF. At Closing, to the extent actually received by Seller prior to Closing, Seller Tenant shall pay to Buyer any Landlord such annual rental in monthly installments, upon occupancy of the Premises which is expected to be (a) January 15, 1997 for Phase I and all prepaid Rent relating (b) for Phase II, April 1, 1997, or pertaining thirty (30) days from the date Attachmate vacates the Premises, which is expected to be March 1, 1997, with such sums payable on the Propertyfirst day of each calendar month during the term hereof in advance, without prior notice or demand. If Seller receives payment the Lease Term terminates on other than the last day of a month, then the rent due shall be prorated for Rent after Closing, Seller shall immediately pay to Buyer the portion of such payment which relates to the period on month and after the Closing Date, and any portion of such payment which relates to the period prior to Closing which was credited to Seller at Closing. Annual Rent increases pursuant to the Leases are to be paid through in advance. All past due installments of rent and other sums due hereunder shall bear interest at the rate of ten percent (10%) per annum from date due until paid. A ten (10) day preceding the Closing Date; provided, however, that if this transaction Closes, Buyer will receive a Rent credit at Closing equal to the annual Rent increases beginning November 1, 2016 through the day preceding the Closing Date, which the parties shall Prorate for the month in which Closing occurs. Any Capital Expenditures Obligation (as defined in the Leases) of Seller, as landlord, pursuant to the Leases with respect to an annual $350 per unit allowance toward payment or reimbursement of Capital Expenditures (as defined in the Leases) made by Tenant grace period shall be paid by Seller allowed from the 1st through 10th of each month for monthly rental payments payable hereunder. No grace period shall be allowed for any other sums due. The base rental set forth above includes an allowance for building operating expenses through December 31, 20161997. For subsequent years, Tenant shall be responsible for its Prorata share of any increase in building operating expenses above the 1997 Base Year expenses. In such event, Tenant's rent payable shall be increased, beginning January 1998 and each successive year in accordance with any unused portion on any Property for the year 2016 to be applied rent and operating expense escalations as a credit to the Consideration allocated for that Property at Closing. If this transaction Closesset forth below, percentage rent under the Leases for the year 2016 (if any) shall accrue through October 31, 2016 and Tenant's prorata amount of Landlord's operating expenses shall be paid to Seller at Closing; provided that Buyer Landlord as set forth below. Tenant's prorata amount shall be determined by multiplying the total dollar amount of Landlord's rent and operating expense escalation obligations by a fraction, whereby the numerator of said fraction is the amount of square feet of the Premises, and the denominator is the amount of square feet of the Building. Initially, this fraction shall be 17.0%. Landlord shall give Tenant written notification of Tenant's prorata share of Landlord's adjusted rents and/or operating expenses. If requested by Tenant, Landlord shall provide documentation outlining the nature of Tenant's adjustments and the Landlord's calculations used to Seller determine them. Tenant shall make monthly rental payments and all information other payments due hereunder payable to Equifax Inc. and documents necessary mailed to calculate any such percentage rent no later than December 15Equifax Inc., 2016Drop 22, with such calculation to be an amount mutually agreed upon by Seller and Buyer prior to Closing0000 Xxxxxxxxx Xxxxxx, X.X., Xxxxxxx, XX 00000.

Appears in 1 contract

Samples: Office Lease Amendment (Radiant Systems Inc)

Rent. The parties Rent, percentage rent and reimbursements for common area maintenance charges, insurance premiums and other lease charges (other than real estate taxes and assessments, which shall Prorate be accounted for and prorated as provided in Section 1.2.2)(collectively, "RENTS") shall be accounted for and prorated as follows: except as otherwise provided in this Agreement, Inland Affiliate shall be entitled to all Rent actually received by Seller Rents accruing from (including)and after the Closing Date, regardless of when paid or collected, and all such items, if any, accruing prior to the Closing Date, regardless of when paid or collected, shall be deposited and paid as follows: fifty percent (50%) of such amount shall be deposited to the Operations Reserve and the balance shall be paid to Withdrawing Member pursuant to the wire instructions for the Withdrawing Member contained in the Escrow Agreement. Thus if the Closing Date is September 15, 2004, one-half of the minimum rent collected for the month of September, 2004 will be credited to Inland Affiliate and the balance shall be deposited into the Operations Reserve and paid to the Withdrawing Member, as provided above. The parties further agree that percentage rent for each tenant shall be prorated post closing based upon the pre-and post Closing allocations described above. There shall be no credit with respect to any unpaid accrued Rents owing from tenants of the Property as of the Closing Date. Holding Company shall not retain in which Closing occursthe Operations Reserve any security deposits or prepaid rent to offset any unpaid accrued rent or other unpaid amounts. At ClosingWith respect to any such unpaid amounts (x) Subsidiary, acting exclusively by and through Cordish Affiliate shall retain the right to xxx the applicable tenant for collection of any such unpaid amounts (provided the costs of suit are funded exclusively from the Operations Reserve) and, to the extent actually the applicable lease permits, collection costs and interest (and, in such regard, Inland Affiliate agrees to cooperate reasonably with any efforts to collect the aforesaid unpaid amounts; provided, however, Cordish Affiliate shall not be entitled to xxx for possession or terminate any Lease), and provided further that Inland Affiliate shall be reimbursed for any reasonable cost or expense incurred by Inland Affiliate in connection with such cooperation, and Subsidiary, acting exclusively by and through Cordish Affiliate, shall have the right and power to prosecute and settle such suits, and (y) if any such unpaid amounts are collected, such amounts shall be promptly deposited into the Operations Reserve (and in such regard, if any amount is received by Seller from a tenant as to which such tenant specifically informs its landlord in writing to which lease obligation such payment is to be applied, such payment shall be so applied; if such tenant does not so inform Subsidiary as to how a particular payment is to be applied, such payment shall be applied first, on account of amounts owed subsequent to the Closing Date; second, on account of past due amounts owed prior to Closingthe Closing Date. Any balance remaining in any tenant's common area maintenance escrow account shall be part of the reconciliation and adjustments between the parties as of the Closing Date. Holding Company and Subsidiary shall promptly deliver to Inland Affiliate all Rents received from tenants under Leases, Seller shall pay which are attributable to Buyer any ownership periods beginning on (and all prepaid Rent relating or pertaining to the Property. If Seller receives payment for Rent after Closing, Seller shall immediately pay to Buyer the portion of such payment which relates to the period on including) and after the Closing Date, and any portion of such payment which relates except to the period prior to Closing which was credited to Seller at Closing. Annual Rent increases pursuant to the Leases are to be paid through the day preceding the Closing Date; provided, however, that if this transaction Closes, Buyer will receive a Rent credit at Closing equal to the annual Rent increases beginning November 1, 2016 through the day preceding the Closing Date, which the parties shall Prorate for the month in which Closing occurs. Any Capital Expenditures Obligation (as defined in the Leases) of Seller, as landlord, pursuant to the Leases with respect to an annual $350 per unit allowance toward payment or reimbursement of Capital Expenditures (as defined in the Leases) made by Tenant shall be paid by Seller through December 31, 2016, with any unused portion on any Property for the year 2016 to be applied extent already included as a credit to the Consideration allocated for that Property at Closing. If this transaction Closes, percentage rent under the Leases for the year 2016 (if any) shall accrue through October 31, 2016 and shall be paid to Seller at Closing; provided that Buyer shall provide to Seller all information and documents necessary to calculate any such percentage rent no later than December 15, 2016, with such calculation to be an amount mutually agreed upon by Seller and Buyer prior to Closingcredit.

Appears in 1 contract

Samples: Limited Liability Company Agreement (Inland Western Retail Real Estate Trust Inc)

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